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.

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