IL&FS Transportation surges as its arm gets certificate to commercially operate 2 check posts

20 Oct 2014

IL&FS Transportation Networks is currently trading at Rs. 171.95, up by 2.55 points or 1.51% from its previous closing of Rs. 169.40 on the BSE.

The scrip opened at Rs. 174.70 and has touched a high and low of Rs. 176.60 and Rs. 171.70 respectively. So far 6692 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 257.00 on 21-Jul-2014 and a 52 week low of Rs. 98.88 on 20-Feb-2014.

Last one week high and low of the scrip stood at Rs. 179.00 and Rs. 167.00 respectively. The current market cap of the company is Rs. 4271.96 crore.

The promoters holding in the company stood at 70.79% while Institutions and Non-Institutions held 7.37% and 21.84% respectively.

IL&FS Transportation Networks’ arm - MP Border Checkpost Development Company, which had been mandated the development of 24 Border Check Posts by the MP Road Development Corporation has been issued Provisional Completion Certificate to commercially operate 2 more check posts namely - Chindwara - Nagpur and Kabir - Chabutara Border Check Posts with effect from October 16, 2014 & October 17, 2014 respectively. The Project is fee based with a Concession period of 12 ½ years.

This is in addition to the existing 8 Border Checkposts already in operation at Agra -Mumbai, Indore - Ahmedabad, Shivpuri - Kota, Betul Nagpur, Indore Icchapur, Mhow - Neemuch, Jabalpur - Jaipur and Seoni - Nagpur for which Provisional Completion Certificate has been issued and in operation as of date.

IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.

 

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
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