Millennium Post

Realty, infra stocks gain on land acquisition ordinance

Shares of infrastructure, realty and defence companies gained ground on Tuesday  after the government recommended promulgation of an ordinance making significant changes in the Land Acquisition Act.

In the infra space, NCC rose by 4.67 per cent, Lanco Infratech climbed 4.27 per cent and IRB Infrastructure Developers (2.53 per cent) at the BSE.

From the defence-related space, shares of BEML surged 7.15 per cent and Bharat Electronics counter was up 2.88 per cent.

Among realty scrips, National Buildings Construction Corporation jumped 3.65 per cent, Godrej Properties gained 3.25 per cent and Sobha Developers rose 1.17 per cent. The government had on Monday recommended promulgation of an ordinance making significant changes in the Land Acquisition Act including removal of consent clause for acquiring land for five areas of industrial corridors, PPP projects, rural infrastructure, affordable housing and defence.

The Union Cabinet, chaired by Prime Minister Narendra Modi, decided to amend the Act to bring under its purview 13 central legislations, including those relating to defence and national security, to provide higher compensation and rehabilitation and resettlement benefits to farmers whose land is being acquired.
PTI

PTI

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