Commercial vehicles makers gain as outlay under JNNURM doubles


MUMBAI, Feb 28:  Shares of commercial vehicle makers today rose by as much as 2.6 per cent after Finance Minister P Chidambaram proposed to allocate Rs 14,873 crore for JNNURM for urban transportation in 2013-14.

Tata Motors moved up by 2.58 per cent to Rs 293.40, while Ashok Leyland jumped 2.15 per cent to Rs 23.25 on the BSE.

Among other auto stocks, Hero MotoCorp was trading 0.65 per cent higher, while Bajaj Auto was up 0.27 per cent.

The Finance Minister proposed to allocate Rs 14,873 crore for Jawaharlal Nehru National Urban Renewal Mission (JNNURM) for urban transportation in 2013-14, against Rs 7,880 crore in the current fiscal.