Union Budget 2015: Shares of road developers gain on proposal of higher investment
Abhishek Vishnoi February 28, 2015
Shares of road developing companies gained on the domestic bourses on Saturday after the Union Budget 2015-16 proposed to make fiscal space for higher investments.
IRB Infrastructure Developers' stock gained 2 per cent, shares of GMR Infrastructure rose 5.4 per cent and those of Ashoka Buildcon were trading 1.9 per cent higher in late morning trade.
Finance Minister Arun Jaitley, in his maiden full-year Budget, said the country will need to build additional 1,00,000 km of roads, adding that the government will achieve fiscal deficit target of 3 per cent of GDP in 3 years as compared to an earlier estimate of 2 years to help fund infrastructure investment.