Tata Motors, Ashok Leyland gain as FM allocates Rs 14,873 crore to JNNURM in Budget 2013
Shares of two major listed bus makers -- Tata Motors and Ashok Leyland -- were the top gainers after FM announced purchase of 10k buses under JNNURM.
By ET Online |
MUMBAI: Shares of two major listed bus makers -- Tata Motors and Ashok Leyland -- were the top gainers in the auto sector on Thursday after Finance Minister P Chidambaram announced purchase of 10,000 buses under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).
The finance ministry has allocated Rs 14,873 crore to JNNURM.
At 11:50 am, the shares of Ashok Leyland were up 1.76 per cent and Tata Motors were up 1.03 per cent on the BSE.
“Faced with a huge fiscal deficit, I have no choice but to rationalise expenditure. We took a dose of bitter medicine. It seems to be working,” the FM said in his budget speech.
The finance ministry has allocated Rs 14,873 crore to JNNURM.
At 11:50 am, the shares of Ashok Leyland were up 1.76 per cent and Tata Motors were up 1.03 per cent on the BSE.
“Faced with a huge fiscal deficit, I have no choice but to rationalise expenditure. We took a dose of bitter medicine. It seems to be working,” the FM said in his budget speech.
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