IL&FS Transportation gains on receiving LoA for Zojila Tunnel

22 Jan 2018

IL&FS Transportation Networks is currently trading at Rs. 82.80, up by 1.75 points or 2.16% from its previous closing of Rs. 81.05 on the BSE.

The scrip opened at Rs. 84.35 and has touched a high and low of Rs. 84.90 and Rs. 82.65 respectively. So far 6,397 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 124.20 on 11-May-2017 and a 52 week low of Rs. 70.00 on 28-Sep-2017.

Last one week high and low of the scrip stood at Rs. 91.25 and Rs. 79.10 respectively. The current market cap of the company is Rs. 2,723.00 crore.

The promoters holding in the company stood at 73.22%, while Institutions and Non-Institutions held 5.25% and 21.54% respectively.

IL&FS Transportation Networks has received a Letter of Acceptance (LoA) dated January 19, 2018 from National Highways & Infrastructure Development Corporation (NHIDCL) for development of the Project. The construction period for the Project is 2,555 days.

Earlier, in July 2017, the company had emerged as the lowest bidder for Construction, Operation and Maintenance of 2-Lane Bi-Directional Zojila Tunnel with Parallel Escape (Egress) Tunnel on Srinagar-Leh Section (the Project) in the State of Jammu & Kashmir on EPC mode at a cost of Rs 4,899.42 crore. The Project is implemented by Ministry of Road Transport & Highways (MORTH) through NHIDCL.

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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