Select cement, metal & mining stocks jump on infra push in Budget 2017

NEW DELHI: Finance Minister Arun Jaitley in his Union Budget speech announced a record allocation of Rs 3.96 lakh crore to infrastructure sector.

According to market experts, rise in allocation to infra space will help cement and steel sector in coming years.

Reacting to the development, cement stocks such as ACC and Andhra Cement were trading higher by 0.80 per cent and 1.23 per cent, respectively, around 12.25 pm (IST).

Other cement stocks such as Heidelberg Cement and JK Lakshmi Cement were up by 1.06 per cent and 0.51 per cent, respectively.

The BSE Metal index was trading 0.56 per cent down at 3054.75. Metal and mining stocks such as Moil, Orissa Mine, NMDC, Sail, Coal India and Apollo Tyres were trading higher by 0.60 per cent, 0.91 per cent, 0.56 per cent, 0.47 per cent, 0.44 per cent and 0.32 per cent, respectively.

The BSE India Infrastructure index was jumped as much as 0.6 per cent after the announcement.