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As Modi triples spending, stocks of India's road builders rally

But the outperformance is in contrast to the nation's power producers that are grappling with losses

In August, Mr Modi allowed developers to sell 100 per cent stake in completed road projects, a move that would help companies raise money to repay debt or invest in other such projects.

New Delhi

PRIME Minister Narendra Modi's decision to triple spending on roads and highways is cheering builders in India, especially the smaller contractors, as he steps up efforts to upgrade the nation's creaky infrastructure.

A custom index of eight stocks has gained 8.3 per cent