IL&FS Transportation surges on emerging as lowest bidder for Zojila Tunnel project

31 Jul 2017

IL&FS Transportation Networks is currently trading at Rs. 96.25, up by 6.75 points or 7.54% from its previous closing of Rs. 89.50 on the BSE.

The scrip opened at Rs. 93.75 and has touched a high and low of Rs. 97.30 and Rs. 93.75 respectively. So far 26,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 124.80 on 12-Jan-2017 and a 52 week low of Rs. 65.85 on 19-Aug-2016.

Last one week high and low of the scrip stood at Rs. 97.30 and Rs. 89.10 respectively. The current market cap of the company is Rs. 3,166.00 crore.

The promoters holding in the company stood at 73.22%, while Institutions and Non-Institutions held 7.30% and 19.49% respectively.

IL&FS Transportation Networks has emerged as the lowest bidder for the Zojila Tunnel project. The company had quoted an amount of Rs 4,899.42 crore to be constructed in a period of 2,555 days (7 years).

Earlier, the company had submitted the bid to the National Highways & Infrastructure Development Corporation for construction, operation and maintenance of 2-lane bi-directional Zojila Tunnel with Parallel Escape Tunnel on Srinagar-Leh Section in the state of Jammu & Kashmir on Engineering, Procurement and Construction (EPC) mode.

IL&FS Transportation Networks is an India-based surface transportation infrastructure company. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance under public to private partnership on build-operate-transfer (BOT) basis.

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