With the Maharashtra state election just a 'stone's throw away', the Eknath Shinde-led state government took a monumental decision by announcing a toll waiver for Light Motor Vehicles (LMV) at all 5 toll points that lead to Mumbai on October 14.
Toll Free Mumbai
This decision essentially renders all 5 checkpoints that allow entry to Mumbai 'Toll-Free' for private vehicles that fall in the category of LMV vehicles.
While this could aid many motorists, it would also result in a decline of about Rs 3.5 crore a week.
This decision was welcomed by many motorists; meanwhile, the performance of some construction and infrastructure companies, whose stakes in these toll plazas and the toll levied from them appear to have taken a hit.
Stocks On Radar
The companies in focus are MEP Infrastructure, IRB Infra Dev., J Kumar Infra, PNC Infratech, and Gayatri Highways.
MEP Infrastructure
When we look at this Mumbai-based company, the company stocks that have declined by 10.59 per cent over the past 5 trading sessions started the day on a disastrous note as the company shares hit the lower circuit, forcing a stop in trading activities on MEP Infrastructure stocks.
On the day, the company shares declined by 5.22 per cent or Rs 0.20, taking the value of the company shares to a meagre Rs 3.63 per piece.
J Kumar Infraprojects Ltd
Then we come to J Kumar Infra. The company shares started the day's trade in red, with its fortunes steadily declining further in the early hours of the day's trade on Wednesday.
The stock value of this entity declined by 0.63 per cent or Rs 4.70. This took the overall value of shares to Rs 735.50 per piece.
IRB Infrastructure Developers Ltd
The stock price of this company also saw a decline after starting the day in a relatively green territory.
The company shares that have dipped by over 2 per cent in the past five trading sessions moved further to the red as the infra stocks dipped by a further 0.19 per cent or Rs 0.11. This took the overall value of shares to Rs 58.84 per piece.
Another company in the mix is Gayatri Highways, which has lost 1.47 per cent in the past 5 trading sessions.
PNC Infratech Ltd
While the sea of red devoured some, a few were floating on the green meadow.
The shares of PNC Infratech Ltd were trading in green. On Wednesday, the company shares gained 3.71 per cent or Rs 16.55, taking the overall value to Rs 462.80.
In addition, the shares of Larsen and Toubro Ltd, after a promising start to the day, slipped into the cracks of red.
L&T shares were trading with a decline of 0.053 per cent or Rs 1.90, taking the overall value to Rs 3,550.00.
You may also like
Zoya Akhtar and Reema Kagti's Documentary 'Turtle Walker' to Premiere Internationally
The best luxury gifts to give this Christmas from cashmere and perfume to homeware
Luke Littler backed to eclipse David Beckham as teenagers net worth continues to soar
Clint Eastwood's 'final film' dealt massive blow ahead of release 'What a dumpster fire'
BREAKING: Yellow weather warnings blanket UK as powerful winds trigger 'danger to life' alert
Boozers beware: Maharashtra orders sophisticated surveillance of 'watering holes'
GMDA to install smart traffic signals at 32 junctions in Gurugram
Indian airlines receive 10 bomb threats in 48 hours, all hoaxes
Amanda Staveley Tottenham takeover truth explained as investment turbocharges Daniel Levy plan
Sunny Deol finds tranquility in the mountains, shares the breathtaking view
IMD issues 'orange alert' in two districts in Kerala
Latest OTT Releases This Weekend: What To Watch On Netflix, Jio Cinema, Amazon Prime Video, Disney+ Hotstar
'My high-protein Aldi food shop helped me lose 20lbs – here's what I bought'
Chennai Couple Earns Rs 1.5 Lakh Per Month, Still Dreams of Buying a House; Internet Calls It a 'Sad Reality
First picture of Brit, 26, who plunged to his death after climbing highest bridge in Spain
Pakistan PM Shehbaz Sharif Highlights Importance of BRI at SCO Meeting in Islamabad
Court grants two days custody of Deepak Boxer to Delhi police
Nayab Singh Saini retained as Haryana CM
PMQs LIVE: Keir Starmer faces grilling from Rishi Sunak as Labour rows rage
"We are here to serve people...": Omar Abdullah asks police to minimise inconvenience during his road movements