The Jaypee Infratech stock is seeing strong buying interest since June 21 on the bourses.
The scrip price rose 7.5 per cent on the NSE and 6.5 per cent on the BSE in the last four trading sessions. This has been backed by significant volumes.
Jaypee Infratech is awaiting inauguration of the 165-km Yamuna expressway, connecting Noida to Agra.
Those in the street expect property prices along the Yamuna expressway to appreciate between 25 and 40 per cent.
Marketmen said Jaypee Infratech holds 2,500 hectares along the expressway.
With authorities of NOIDA, Greater Noida and YEIDA (Yamuna Expressway Industrial Development Authority) having discussed the safety report tabled by RITES (Rail India Technical and Economic Services), it is just a matter of time before the expressway is thrown open to the public.
Ongoing panchayat elections in Uttar Pradesh, however, are delaying the announcement on this project until July 7 as the election code of conduct is in place. The issues to be resolved are applicability of toll for the whole 165 km stretch or exemption of toll for 21 km in Greater Noida; construction of roadside amenities before inauguration; permissible speeds for various vehicle categories and the de-bottlenecking of the link road up to the Taj corridor.