Delhi-Meerut Expressway: This stock hit its lifetime high a day after inauguration

A day after PM Narendra Modi inaugurated the first phase of India's first 14-lane expressway- the Delhi-Meerut Expressway (8.716 km of Delhi section) from Nizamuddin Bridge to UP border, the stock of  the expressway developer Welspun Enterprises hit its all time high in trade today.

The stock which opened at 195.40 rose 4.72% to hit a new high in trade today.The stock has delivered 122.22% returns during the last one year and has gained 14.09% since the beginning of this year.

The stock has given 37.46% returns during the last one month. The stock closed 2.58% higher at 198.70 on BSE. 

The expressway has been built by NHAI and Welspun Group in a record time of 18 months as against the earlier expected construction period of 30 months.

The total length of the project is 82 km, of which the first 27.74 km will be 14-laned, while the rest will be a six-lane expressway. The project is likely to cost Rs 4,975.17 crore.

The expressway will have 11 flyovers/interchanges, five major and 24 minor bridges, 3 ROBs (rail over bridges), 36 vehicular and 14 pedestrian underpasses. It will also have an elevated section of 5.91 km.

Asserting that infrastructure is a key priority for his government, Prime Minister Narendra Modi said that Rs 3 lakh crore has been spent on laying a network of 28,000 km of highways. Highways, railways, airways and I-ways have been the focus of the government, he said.

Highways construction has reached 27-km a day from mere 12-km a day during the Congress regime, while last year 10 crore people undertook air journeys, he said.

Modi was addressing a public rally in Baghpat after dedicating the Eastern Peripheral Expressway (EPE) to the nation. The 135 km EPE has been built at a cost of Rs 11,000 crore in 500 days.

He said apart from Rs 5 lakh crore provision for Bharatmala for highways, a provision of Rs 14 lakh crore was made in the budget to strengthen agriculture related infrastructure.