Shares of commercial vehicle makers today rose as much as 2.6 per cent after Finance Minister P. Chidambaram has proposed to allocate Rs 14,873 crore for JNNURM for urban transportation in 2013-14.
Tata Motors moved up 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 has proposed to allocate Rs 14,873 crore for the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) for urban transportation in 2013-14 against Rs 7,880 crore in the current fiscal.