Shares of NCC Ltd, PNC Infratech and KNR Constructions rose up to 6% in early deals today after Finance Minister Nirmala Sitharaman in her Union Budget 2024 speech said the government plans to expand the Pradhan Mantri Awas Yojana (PMAY) by making provision for 3 crore more houses under the scheme.
While NCC stock rose up to 5.71% to Rs 334.95 in early deals, stock of PNC Infra gained 3.65% to Rs 527 on BSE. Shares of another civil construction firm KNR Constructions climbed 3.2% to Rs 375.05 against the previous close of Rs 363.30.
Market cap of NCC rose to Rs 20,536 crore. PNC Infratech saw its market cap rising to Rs 13,274 crore. KNR Constructions' market cap climbed to Rs 10,322 crore.
Launched in June 2015, the scheme aims to provide pucca houses with basic amenities to all eligible urban beneficiaries. Finance Minister Nirmala Sitharaman highlighted this expansion in her Union Budget speech on July 23.