Jaypee Infratech rises on opening Yamuna expressway for traffic

Jaypee Infratech Ltd. | Construction - Real Estate | Construction & Infrastructure | BSE: 533207 | NSE: JPINFRATEC

09 Aug 2012 Evaluate

Jaypee Infratech is currently trading at Rs. 55.90, up by 0.20 points or 0.36% from its previous closing of Rs. 55.70 on the BSE.

The scrip opened at Rs. 57.00 and has touched a high and low of Rs. 57.45 and Rs. 55.50 respectively. So far 310153 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 65.70 on 24-Oct-2011 and a 52 week low of Rs. 33.00 on 22-Dec-2011.

Last one week high and low of the scrip stood at Rs. 57.45 and Rs. 53.60 respectively. The current market cap of the company is Rs. 7722.47 crore.

The promoters holding in the company stood at 83.27% while Institutions and Non-Institutions held 9.85% and 6.87% respectively.

Jaypee Infratech’s 165 KM 6 lane access controlled Yamuna Expressway connecting Noida to Agra has been inaugurated by Uttar Pradesh Chief Minister Akhilesh Yadav, on August 09, 2012 and is now opened for traffic. The company has constructed the same on build-operate-transfer basis with a concession period of 36 years in terms of the concession agreement with the Yamuna Expressway Industrial Development Authority.

The total construction cost of the road is around Rs 12,839 crore, which runs along the Yamuna river. The tolled road is expected to lessen traffic congestion on the National Highway 2. As per the terms of the concession agreement, the entity will receive 6,175 acres of land across five different sites at the Government’s cost of acquisition, paying only an annual lease rent of Rs 41 per acre. It is also entitled to collect tolls at rates fixed by the Uttar Pradesh Government for 36 years.

Jaypee Infratech incorporated as a Special Purpose Vehicle for implementation of 165 km long 6-lane Access-Controlled Yamuna Expressway in the state of Uttar Pradesh connecting Noida and Agra.