PM announces major infra push; stocks like L&T, HG Infra may be in focus
Underscoring his focus on 'Make in India' and extending it to 'Make for World', the Prime Minister Narendra Modi announced a major push to the infra sector while addressing the nation on 74th Independence Day.
"Along with Make in India, we have now to take forward the mantra Make for World," said the PM.
The PM highlighted the need to give a new direction to the overall infrastructure development of the country.
"This need will be met from the National Infrastructure Pipeline Project. The country is going to spend more than Rs 110 lakh crore on this. About 7,000 projects of different sectors have also been identified," said the PM.
The move is expected to boost infra stocks, including Larsen & Toubro (L&T), Nirlon, HG Infra Engineering, Indian Hume Pipe Company, Bharat Road Network, Generic Engineering Construction and Projects, Anubhav Infrastructure and Jaihind Projects.
PM also emphasized the need for integrated infrastructure with smooth connectivity between roads, railways, and waterways.
"Former prime minister Atal Bihari Vajpayee had taken India’s road infrastructure to the next level. Now we need to focus on multi-modal infrastructure. We need to stop working in silos," said the PM.