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Infra stocks extend rally; HCC, Patel Engineering surge over 30% in three days

C&C Constructions, Punj Lloyd, IL&FS Engg, BL Kashyap and IVRCL were up 15% -44% on the BSE in past three days.

Topics
Infrastructure

SI Reporter  |  Mumbai 

Shares of infrastructure companies were trading higher for the third straight trading sessions after the Cabinet on Wednesday approved an array of measures to help quickly resolve disputes, pump in liquidity and deal with stressed assets.

Since then, Hindustan Construction Company (HCC) and Patel Engineering said that the Union Cabinet's decision requiring the government agencies to pay 75% of arbitral awards would result in company’s debt being reduced by half. “HCC has arbitration awards for over Rs 3,200 crore and with the cabinet decision, the company will get 75% ...

First Published: Fri, September 02 2016. 10:17 IST
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