Technical Analyst Rajesh Agarwal of CD Equisearch has maintained 'buy' rating on 'Jaypee Infratech' stock with view to holding it for 18-24 months.

According to Mr. Agarwal, the investors can surely reap good returns from the stock in the said period.

Today, the stock opened at Rs 93 on the Bombay Stock Exchange (BSE).

Today, the equity shares of the company listed on the Bombay Stock Exchange (BSE) with a discount of 9% over its issue price of Rs 93.

The company's scrip dropped around 12% to hit a low of Rs 90 as against its issue price that has been set at Rs 102 per share.

Likewise, the company's stock opened at Rs 98, down 4% on the NSE.

Jaypee Infratech listed 138.89 crore shares on both BSE and NSE.

During April 2010, Jaypee Infratech lifted Rs 2,250 crore thru share sale. It has decided to invest around Rs 1,500 crore over the growth of the Yamuna Expressway.

A unit of the Jaypee group Jaypee Infratech was set up in the year 2007. It is involved in the development of the Yamuna Expressway and related realty projects.