Indian infra, capital goods companies end lower on 'modest' capex outlay

ABB India

01/02/2025 10:14

(Updates)
    ** India's Nifty Infrastructure index  .NIFTYINFRA  closes
1.1% lower
    ** Ahead of budget, it was up 0.65%  
    ** India's FY26 capex outlay at 11.2 trln rupees ($129.43
billion) looks "modest compared to raises made in FY25 and FY24
budgets" and misses market expectations slightly, says Amit
Anwani, research analyst at Prabhudas Lilladher
    ** Previous budget's capex outlay was 11.11 trln rupees 
    ** Cement makers UltraTech  ULTC.NS , Ambuja  ABUJ.NS ,
Shree  SHCM.NS  close 2%-2.9% lower
        ** Capital goods companies Larsen & Toubro  LART.NS ,
Siemens  SIEM.NS , ABB India  ABB.NS  close 3.4% to 6.4% down
  
    ** Nifty Infra index lost 10%, as of last close, since July
post-election budget 

($1 = 86.5360 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))