Budget 2020: Stocks of logistics companies rose up to 3.97% after Rs 1.7 lakh crore allocation

February 4, 2020: Stocks of seven important transport companies rose on February 1 after Finance minister Nirmala Sitharaman presented the Union Budget 2020-21 by allocating Rs 1.7 lakh crore for building transport infrastructure.

“IRCTC (up 3.97%), Rites (up 3.35%), Interglobe Aviation (up 2.84%), NELCO (up 2.97%), Siemens (up 1.58%), Container Corporation of India (up 1.47%), Larsen & Toubro (up 0.34%) and BEML (up 0.34%) edged higher,” reports Business Standard.

The budget has also allocated Rs 19.6 lakh crore for roads, Rs 13.69 lakh crore for railways, Rs 1.43 lakh crore for airports and Rs 1.01 lakh crore for ports, promised 100 new airports by 2024, flight & railway cold chain for farmers to transport perishables, electrification of 27,000 railway tracks, more private trains to tourist destinations, corporatization and listing of at least one port, completion of National Waterway- 1 and announced the launch e-logistics market.