Infrastructure stocks recover from last week's falls

Tags: Companies
Shares in infrastructure and capital goods companies gained after last week's falls were seen as excessive, traders say. Infrastructure stocks were the major gainers of a near 20 percent rally in the broader NSE index this year on hopes the new Modi government would make a major push to boost infrastructure.

But shares fell last week due to disappointment that the budget lacked major initiatives for the sector. Still, traders note they still expect new initiatives from the government going forward.

Shares in engineering and construction major, Larsen and Toubro Ltd gain 1.4 percent. The stock fell 9.7 percent in the previous week but is still up 52.9 percent so far this year.

Bharat Heavy Electricals Ltd is up 1.2 percent after falling 15.1 percent in the previous week. The stock is up 31.2 percent so far this year.

GMR Infrastructure Ltd gains 1.9 percent after falling 17.7 percent in the previous week, while GVK Power and Infrastructure Ltd, which fell 14.6 percent last week, is up 1.3 percent.

EDITORIAL OF THE DAY

  • Common test will safeguard sanctity and bring accountability to medical profession

    Recalling its order of 2013, the Supreme Court paved the way for the all-India common entrance test, the national eligibility-cum-entrance test (NEET)

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Political rhetoric makes for counter poetry

Poetic flourishes flavour politics. Ghalib and Hafez flowed profusely to ...

Zehra Naqvi

Watch your words, for they can kill

You must’ve heard the ph­rase ‘if looks could kill’. Ever ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture