Indian state-run firms rise ahead of budget on hopes of higher infra, public spending

Indian Railway Catering and Tourism

30/01/2025 06:13

** Indian state-run companies  .NIFTYPSE  extend gains to
climb 2%, taking their two-day gain to ~4% 
    ** Eighteen of 20 stocks in the sub-index trade higher
    ** Power Grid  PGRD.NS  and GAIL  GAIL.NS  top percentage
gainers in sub-index, rising ~3% each
    ** IRCTC  INIR.NS , Indian Oil  IOC.NS  and Power Finance
 PWFC.NS  add about 2.5% each
    ** Rise in public sector companies signals market
expectations that the government will prioritize infrastructure
and public investment in the union budget, Aishvarya Dadheech of
Fident Asset Management says
    ** India to announce the union budget for FY25-26 on Feb 1
    ** Sub-index down ~19% since last budget on July 23 


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))