Jaypee Infratech has surged 8% to Rs 61.50 on back of huge volumes in opening trades on reports that the 165-km Yamuna expressway, connecting Noida and Agra, is likely to be open for public use on July 17.
As many as a combined 1.88 million shares have already changed hands on the counter in opening trades, against an average less than 800,000 shares that were traded daily in past two weeks on the NSE and BSE.
The stock has outperformed the market by rising 34% in past one month, compared to 5.4% gain in the BSE-500 index.
“As part of the concession agreement, the company would have the right to toll the expressway for 36 years and to develop nearly 6000 acres of real estate along the expressway,” the report suggests.
