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Budget 2024: NCC, PNC Infra shares rise up to 6% as FM proposes 3 crore more houses under PMAY 

Budget 2024: NCC, PNC Infra shares rise up to 6% as FM proposes 3 crore more houses under PMAY 

Budget 2024: While NCC stock rose up to 5.71% to Rs 334.95 in early deals, stock of PNC Infra gained 3.65% to Rs 527 on BSE.  

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Aseem Thapliyal
Aseem Thapliyal
  • Updated Jul 23, 2024 12:08 PM IST
Budget 2024: NCC, PNC Infra shares rise up to 6% as FM proposes 3 crore more houses under PMAY  Market cap of NCC rose to Rs 20,536 crore. PNC Infratech saw its market cap rising to Rs 13,274 crore. KNR Constructions' market cap climbed to Rs 10,322 crore.

Shares of NCC Ltd, PNC Infratech  and KNR Constructions rose up to 6% in early deals today after Finance Minister Nirmala Sitharaman in her Union Budget 2024 speech said the government plans to expand the Pradhan Mantri Awas Yojana (PMAY) by making provision for 3 crore more houses under the scheme.

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While NCC stock rose up to 5.71% to Rs 334.95 in early deals, stock of PNC Infra gained 3.65% to Rs 527 on BSE.  Shares of another civil construction firm KNR Constructions climbed 3.2% to Rs 375.05 against the previous close of Rs 363.30.

Market cap of NCC rose to Rs 20,536 crore. PNC Infratech saw its market cap rising to Rs 13,274 crore. KNR Constructions' market cap climbed to Rs 10,322 crore.

Launched in June 2015, the scheme aims to provide pucca houses with basic amenities to all eligible urban beneficiaries. Finance Minister Nirmala Sitharaman highlighted this expansion in her Union Budget speech on July 23.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

ABOUT THE AUTHOR

Aseem Thapliyal
Aseem Thapliyal

A journalist with over 12 years' experience, who tracks trends in the share market and writes stock market stories. An active follower of Sensex and Nifty, I capture stocks in news and analysis by share market experts and brokerages on their outlook and price targets. I cover company news/earnings leading to a rally or crash in particular stocks or stock market indices. Also track impact of global stock markets on their Indian peers. I have worked with Live Mint and NDTV Profit in previous stints. My hobbies are exploring new places, travelling, watching movies, spending time with friends and family, watching web series, playing cricket and football. I have completed graduation from Delhi University along with a PG Diploma in journalism from IIMC. I can be reached easily via social media platforms.

Published on: Jul 23, 2024 12:08 PM IST
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