Shares of Housing and Urban Development Corporation (HUDCO) surged over 3% on Friday, April 24, after reports that the Maharashtra government is moving ahead with plans to raise funds through the company for key infrastructure projects.
HUDCO shares were trading at Rs 211.29, up 3.34% during the morning session, compared to the previous close of Rs 204.46. The stock saw early buying interest as investors reacted to the potential funding opportunity linked to state-led infrastructure expansion.
The Maharashtra government has approved a proposal to raise funds for land acquisition for three major expressway projects in the Vidarbha region—Nagpur-Gondiya, Bhandara-Gadchiroli, and Nagpur-Chandrapur. The decision was taken at a Cabinet Infrastructure Development Committee meeting chaired by Chief Minister Devendra Fadnavis.
The Chief Minister has directed the Maharashtra State Road Development Corporation to prepare a detailed implementation schedule, including timelines for tender issuance, bid finalisation, and project completion. He also instructed officials to expedite the proposal to secure funding from HUDCO in coordination with the finance department.
These expressway projects are expected to significantly improve connectivity and support industrial growth in eastern Maharashtra, positioning HUDCO as a key financing partner in the state’s infrastructure push.
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