IL&FS Transportation surges as its arm receives completion certificate for Hazaribagh - Ranchi section

16 Apr 2013

IL&FS Transportation is currently trading at Rs. 183.00, up by 3.50 points or 1.95% from its previous closing of Rs. 179.50 on the BSE.

The scrip opened at Rs. 179.00 and has touched a high and low of Rs. 183.40 and Rs. 179.00 respectively. So far 1, 04,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 227.00 on 09-Jan-2013 and a 52 week low of Rs. 156.60 on 13-Sep-2012.

Last one week high and low of the scrip stood at Rs. 187.00 and Rs. 175.25 respectively. The current market cap of the company is Rs. 3,555 crore.

The promoters holding in the company stood at 72.46% while Institutions and Non-Institutions held 7.54% and 20.00% respectively.

IL&FS Transportation Networks - Hazaribagh - Ranchi section of NH-33 from km 40.500 to 114.00 in the State of Jharkhand (“the Project”) being implemented by the subsidiary of the company has been issued a Provisional Completion Certificate by the Competent Authority effective September 15, 2012.

The Project has been commissioned 134 days ahead of Scheduled Project Completion Date i.e. January 27, 2013. The company shall receive from NIIAI, a semi-annual annuity of Rs 64.08 crore for a period of 15.5 years effective September 15, 2012. In addition, the company shall also receive a one-time Bonus Annuity of Rs 47.70 crore for early completion of the Project.

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
Research Analyst - INH000000719

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