Home >Markets >Stock Markets >Infrastructure stocks fall as some Maharashtra projects under state govt lens
Maharashtra chief minister Uddhav Thackeray  (ANI)
Maharashtra chief minister Uddhav Thackeray (ANI)

Infrastructure stocks fall as some Maharashtra projects under state govt lens

  • Around 7 trillion rides on the Shiv Sena-led Maharashtra government’s decision to review several high-profile infrastructure projects
  • Maharashtra chief minister Uddhav Thackeray had said on Sunday that his government has ordered a review of infrastructure projects

Shares of infrastructure companies, which have presence in Maharashtra, fell sharply on Wednesday as the Shiv Sena-led government in the state decided to review some of the 7 trillion projects approved by previous rule in the last six months.

Shares of Larsen & Toubro, IRB Infrastructure Developers Ltd, Capacite Infraprojects Ltd, ITD Cementation India Ltd, Ahluwalia Contracts India, Dilip Buildcon, PNC Infratech Ltd, and Sadbhav Infrastructure Projects fell 1-5%.

Around 7 trillion rides on the Shiv Sena-led Maharashtra government’s decision to review several high-profile infrastructure projects approved by the previous government, with a state cabinet meeting on Tuesday putting many of them under the scanner.

Maharashtra chief minister Uddhav Thackeray had said on Sunday that his government has ordered a review of infrastructure projects as part of a wider audit and to determine priorities for his new government.

The government has already indicated that it is not keen on the 5 trillion refinery and petrochemicals complex in Raigad and the 1.2 trillion Mumbai-Ahmedabad bullet train.

Other projects under review are the Aarey metro car shed project (over 15,000 crore), Mumbai-Nagpur Samruddhi Corridor ( 46,000 crore), a coastal road connecting south Mumbai with the city’s western suburbs ( 12,000 crore), and a third bridge on the Thane Creek ( 800 crore), reported Mumbai Mirror.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
My Reads Redeem a Gift Card Logout