Jaypee Infratech is in focus this morning. The company’s stock takes a massive hit after Samajwadi Party government scrapped 30 km-long Agra inner ring road.
Two years after the Mayawati government had given a contract to Jaypee Infratech to build about 30 km-long Agra inner ring road, the Samajwadi Party government scrapped the agreement on Wednesday.
The decision was taken after taking the developer into confidence which had already expressed its desire to quit, following non-availability of additional land as sweetener as promised in the past.
The government will now float a fresh tender for the project, which is not only significant to give a free way to the traffic coming from Yamuna Expressway but also for the proposed Lucknow-Agra Expressway, which has been planned by the incumbent government.
The decision was taken after taking the developer into confidence which had already expressed its desire to quit, following non-availability of additional land as sweetener as promised in the past.
The government will now float a fresh tender for the project, which is not only significant to give a free way to the traffic coming from Yamuna Expressway but also for the proposed Lucknow-Agra Expressway, which has been planned by the incumbent government.
SO AT THIS 40 LEVELS BUY MORE AND MORE JPINFRA FOR INVESTMENT AS VALUATION BECOME ATTRACTIVE
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