Stocks of road
construction companies jumped during Wednesday trade as the Government approved to construct 83,677 km of highways in the next 5 years.
Stocks such as KNR Construction surged ~9%, while Ashoka Buildcon and Sadbhav Engineering surged ~8%.
The cost of the project is about Rs 6.92 lakh crore. This also includes ambitious Bharatmala project costing Rs 5.35 lakh crore. The roads that would be constructed under Bharatmala project will include national highways, state highways and some state road projects across the county.
Bharatmala is the largest highways project after the National Highway Development Programme (NHDP) which saw the development of about 50,000 km, and aims at improving connectivity in border and other areas.