Shares of Housing & Urban Development Corporation Ltd. (HUDCO) rose as Finance Minister Nirmala Sitharaman promised 2 crore new houses over the next five years in her interim Budget speech.
The state-run company provides financial assistance for housing and urban infrastructure development projects.
The Finance Minister also said that the government will launch a new housing scheme for India's middle-class population.
Shares of HUDCO are trading 7.4% higher at ₹185.10. The stock is trading at a record high. The stock is up nearly 5x from its 52-week low of ₹40.4. The government currently holds a 75% stake in HUDCO.
Another stock in action post this announcement is NBCC, which provides construction and engineering services for residential, commercial and institutional buildings.
Shares of NBCC are up 5.5% post the announcement at ₹136.7 per share.
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(Edited by : Amrita)
First Published: Feb 1, 2024 11:49 AM IST
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