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Construction firms get thumbs up on Modi's spending plan

Larsen & Toubro has rallied 27% this year, beating the benchmark gauge which has risen 19%

Abhishek Vishnoi | Bloomberg  |  Singapore 

Prime Minister Narendra Modi's plan to spend a record $60 billion on infrastructure this financial year has started trickling into company earnings, giving analysts a reason to turn optimistic about Indian construction stocks. Larsen & Toubro (L&T), the nation's largest engineering firm, has rallied 27 per cent this year, beating the benchmark gauge which has risen 19 per cent.

Gayatri Projects and KNR Constructions, which build roads, and Simplex Infrastructures have also surged. The outperformance may continue as the nation's central bank rate cut of 200 ...

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First Published: Thu, August 31 2017. 23:25 IST