Infra stocks extend losses after India budget retains capex outlay

Texmaco Rail & Engineering

23/07/2024 07:48

** Nifty infrastructure index  .NIFTYINFR  extends losses
after India budget retains capex outlay 
    ** NIFTYINFR sheds 0.5%, before budget was down 0.2% 
    ** India government retains capex outlay on Tuesday's budget
from interim budget announced in Feb 2024
    ** Infrastructure was widely expected to be among key focus 
of this budget 
    ** Expected infra focus spurred hopes that capex will be
raised, said Kranthi Bathini, Wealthmills Securities
    ** Construction bellwether Larsen and Toubro  LART.NS  fall
2.2% 
    ** Wagon makers Titagarh Rail Systems  TITG.NS  and Texmaco 
 TEXA.NS  fall 1.8% and 2.1% 
    ** Road makers Dilip Buildcon  DIBL.NS  and IRB
Infrastructure Developers  IRBI.NS  down ~1% each 
    

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