IVRCL, IRB, GMR gain ahead of PM's meet on infra

Infra stocks traded with strong gains ahead of a key meeting to be chaired by Prime Minister Manmohan Singh Wednesday. The meeting has been called as part of an exercise to boost investment sentiment in the country. The move was necessitated after a slowdown in the core sector, which grew at 2.2% in April.

Stocks in focus: IVRCL gained 8 per cent, IRB Infra rose 5 per cent, and GMR Infra advanced 4.65 per cent.

The meeting is likely to focus on the current status of infra projects.
Aviation sector is likely to be in focus: Focus is likely to be on upgrading and modernising airports; Chennai and Kolkata airports are up for modernisation; 17 new airports might come up for consideration; PPP to be considered for Navi Mumbai, Goa and Itanagar airports; Airline hub policy to be discussed; Policy to improve air connectivity may be considered.

Rail, roads and ports: Bullet train between Mumbai and Ahmedabad may be considered. Elevated rail corridor in Mumbai might be discussed. Two new major ports are likely to be set up . 8,000 km of roads are likely to be fast tracked.

(With agency inputs)