IL&FS Transportation gains after receiving provisional completion certificate for a check post

IL&FS Transportation Networks rose 3.11% to Rs 116 at 14:43 IST on BSE after the firm said its unit has been issued provisional completion certificate to commercially operate the Indore-Icchapur border check post with effect from 17 November 2013.

The announcement was made during trading hours today, 18 November 2013.

Meanwhile, the S&P BSE Sensex was up 391.93 points or 1.92% at 20,791.35.

On BSE, 9,167 shares were traded in the counter as against average daily volume of 32,573 shares in the past one quarter.

The stock hit a high of Rs 117.25 and a low of Rs 115 so far during the day. The stock had hit a 52-week high of Rs 227 on 9 January 2013. The stock had hit a record low of Rs 98.10 on 19 September 2013.

The stock had underperformed the market over the past one month till 14 November 2013, declining 1.62% compared with the Sensex's 1.01% fall. The scrip had also underperformed the market in past one quarter, sliding 10.57% as against Sensex's 5.33% rise.

The small-cap company has equity capital of Rs 194.27 crore. Face value per share is Rs 10.

IL&FS Transportation Networks said that the provisional completion certificate for Indore-Icchapur border check post is in addition to the existing four border checkposts already in operation at Agra-Mumbai: Indore-Ahmedabad: Shivpuri-Kota and Betul-Nagpur for which provisional completion certificate has been issued and in operation as of date. The project is fee based with a concession period of 12 and half years.

IL&FS Transportation Networks' consolidated net profit fell 4% to Rs 111.27 crore on 2.2% decline in net sales to Rs 1340.70 crore in Q2 September 2013 over Q2 September 2012.

IL&FS Transportation Networks is one of the largest private sector road operators in India. The company is engaged in the development, operation, and maintenance of national and state highways, roads, flyovers and bridges primarily in India.

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