Hero Motocorp Ltd.’s stock increased by as much as 3% on Tuesday, July 23, following the announcement by Finance Minister Nirmala Sitharaman that ₹2.66 lakh crores will be allocated for rural development, including spending on infrastructure. The rural economy will benefit from this and M&M and Hero MotoCorp shares should rise as a result.
FM Sitharaman announced ₹2.66 lakh crore in rural allocations during her seventh Union Budget presentation, a 12% increase over FY24 budget predictions.
According to Sitharaman, the allocation would also be used to improve rural infrastructure.
As of 11:40 pm, Hero MotoCorp shares were trading 1.27% higher at ₹5,532.75.
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