Finance Minister Nirmala Sitharaman has announced the Union Budget for 2024-25 and made a series of announcements for Andhra Pradesh, which elected the NDA Government in the recently concluded General Elections.
Nirmala Sitharaman has announced a Rs 15,000 crore investment in Andhra Pradesh to facilitate special financial support through Multilateral Development Agencies and the state has a vision to make Amravati, a model capital city.
In the Budget speech Finance minister also added that the government is committed to financing an early completion of the Polavaram project, which is the lifeline for A.P. and its farmers. This will facilitate the country’s food security as well.
The A.P. Reorganisation Act provides cash to maintain essential infrastructure such as water, power, and roads to promote industrial growth. She also stated that an additional budget will be set out for capital investment on development projects.
Here are the stocks that jumped up to 5% after a Rs 15,000 crore investment plan to develop Amravati.
Andhra Cements Ltd
Likhitha Infrastructure Limited is an Indian oil and gas pipeline infrastructure service company. The Company specializes in pipeline building, facility management, and maintenance for Indian oil and gas corporations.
With a market capitalization of Rs 908.82 crore, the shares were trading at Rs 98.60 per share, today the stocks hit a 5 percent upper circuit as compared to the previous closing price of Rs 94.26 per share.
KCP Ltd
KCP Limited manufactures and sells cement, sugar, heavy engineering, and captive power production, and provides hospitality services. The company has production operations in Macherla and Muktyala, Andhra Pradesh, with a captive supply of limestone. They produce around 4.3 million tons of cement annually in India.
With a market capitalization of Rs 3,232.05 crore, the shares were trading at Rs 250.70 per share, today the stocks gained up to 7 percent as compared to the previous closing price of Rs 242.60 per share.
Likhitha Infrastructure Limited is an Indian oil and gas pipeline infrastructure service company. The Company specializes in pipeline building, facility management, and maintenance for Indian oil and gas corporations.
With a market capitalization of Rs 1,685.50 crore, the shares were trading at Rs 426.75 per share, today the stocks gained up to 5 percent as compared to the previous closing price of Rs 431.30 per share.
Written by:- Abhishek Singh
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