Larsen & Toubro, KNR Constructions and PNC Infratech are the top bets of brokerages after the government announced that Rs 102 lakh crore of infrastructure projects will be implemented in the next five years as part of the government’s spending push in the infrastructure sector. While they see the government’s announcements as positive for infrastructure companies, they also believe that the investment targets are ambitious and there is a lack of detail on financing as well as execution of plans. Finance minister Nirmala Sitharaman said Prime Minister Narendra Modi had in his Independence Day speech spoken of investing Rs 100 lakh crore in infrastructure and said another Rs 3 lakh crore of projects are likely to be added to this pipeline. Shares of L&T, PNC Infratech, KNR Constructions and KEC InternationalNSE 0.51 % ended up 1-2% on Wednesday. Here’s what brokerages are saying on the government’s latest infrastructure push:
