Shares of realty cos, road builders gain as Budget proposes DFI
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Mumbai, Feb. 1 -- Shares of realty companies and road builders on Monday surged after finance minister Nirmala Sitharaman, in her Budget speech, proposed the creation of a new Development Finance Institution (DFI) to spearhead its investment into India's physical infrastructure space.
Real estate developers stocks, Indiabulls Real Estate advanced 6%, Prestige Estate 4.5%, DLF 4.2%, Phoenix 3.4%, and Godrej Properties 2.4%.
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Road builders such as KNR Constructions gained 7%, NCC 8%. The BSE Realty index rose 3.2%, while Sensex advanced 2%.
The government will capitalise the DFI with Rs.20,000 crore, allowing it to leverage debt of up to Rs.5 lakh crore in three years to provide much-need...
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