Nifty Metal rise: Capital expenditure increased by 35% to Rs 7.5 lakh crore in Budget 2022

Nifty Metal rise: Capital expenditure increased by 35% to Rs 7.5 lakh crore in Budget 2022
Capital expenditure increased by 35% (Image: Canva)

Finance Minister Nirmala Sitharaman announced the budget 2022, in this budget the capital expenditure has been increased by 35% to Rs 7.5 lakh crore.

Apart from this, the Finance Minister said that this year the focus will be on the Gati Shakti plan, and under this scheme, in the financial year 2023, the national highway will be increased by 25000 km.

After this announcement, there was an upward movement in infra, cement, and metal stocks. Till market closing Nifty Metal Index was trading 4.6% above its previous day closing price.

Apart from this, there was an upside movement of up to 3.5% in Larsen & Toubro Limited in Infra stock and up to 3.27% in Adani Ports and Special Economic Zone Ltd.

In metal stocks, Tata Steel saw an upside movement of 7.08%, Steel Authority of India Limited up to 4.27%.

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This article is only for education purpose and the author has his own views and research, so if you invest in these stocks then do it at your own risk and do the research yourself before investing.

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