Users on Reddit found a microcap stock based in Bihar surging during Budget 2024. The stock surged as the finance minister announced projects for the state of Bihar.

What Happened: A user in the IndianStockMarket subreddit pointed out that Agri-Tech (India), a company based in Aurangabad, Bihar surged after Finance Minister Nirmala Sitharaman announced measures for Bihar state.

See Also: ITC, HUL, Other FMCG Stocks Surge As Sector Finds Itself Among Winners Of Budget 2024

Agri-Tech India gained around 11% during the budget speech. Overall, the stock surged 20% and hit the upper circuit at ₹234.21. It was not clear the exact reason that triggered the huge jump in the stock.

Agri-Tech India is into horticulture of crops according to the company’s annual report. The company has a market cap of ₹138 crore.

Meanwhile in the budget, Bihar bagged various projects, with Sitharaman announcing the development of new airports, medical colleges and highways in Bihar. The central government has allotted ₹26,000 crore for different road projects in the state.

Read Next: Property Stocks DLF, Godrej Properties, Brigade Tank After Budget Scraps Indexation Benefit On Long-Term Capital Gains Tax