L&T, Siemens surge up to 5% as govt proposes 33% jump in capex outlay

Timken India, Praj Industries, AIA Engineering and ABB were among other individual stocks from the S&P BSE Capital Goods index, up 4 - 5 per cent each.

The S&P BSE Capital Goods index moved higher by 2 per cent to 34,539 on the BSE in Wednesday’s intra-day trade, after the Budget 2023 proposed 33 per cent jump in capital expenditure (capex) outlay for the financial year 2023-24 (FY24).

The capital goods index bounced back 2.5 per cent from its intra-day low of 33,694. In comparison, the S&P BSE Sensex was up 0.88 per cent at 60,076 at 12:05 PM.

"The Centre will hike the capex outlay for 2023-24 by 33 per cent to Rs 10 trillion," Finance Minister Nirmala Sithraman said on Wednesday. In her