IL&FS Transportation gains after road project commences commercial operations

IL&FS Transportation Networks rose 2.78% to Rs 179 at 11:30 IST on BSE after the company said that the four laning of Warora Chandrapur Ballarpur Bamni Road Project has commenced commercial operations from 26 December 2014.

The company made announcement during market hours today, 29 December 2014.

Meanwhile, the S&P BSE Sensex was up 213.86 points or 0.79% at 27,455.64.

On BSE, so far 16,439 shares were traded in the counter as against average daily volume of 35,230 shares in the past one quarter.

The stock hit a high of Rs 179.40 and a low of Rs 173.10 so far during the day. The stock hit a 52-week high of Rs 257 on 21 July 2014. The stock hit a 52-week low of Rs 98.88 on 20 February 2014.

The stock had outperformed the market over the past one month till 26 December 2014, declining 2.76% compared with Sensex's 4.03% fall. The scrip had however outperformed the market in past one quarter, falling 0.57% as against Sensex's 2.31% rise.

The mid-cap infra company has equity capital of Rs 246.72 crore. Face value per share is Rs 10.

IL&FS Transportation Networks said that the four laning of Warora Chandrapur Ballarpur Bamni Road Project in the State of Maharashtra which was awarded to the consortium of Vishwaraj Infrastructure, Diva Media and the company has commenced commercial operations from 26 December 2014. The project is on toll basis with a concession period of 30 years (including 3 years of construction period). The company has equity stake of 35% in the project.

IL&FS Transportation Networks' net profit fell 33.7% to Rs 22.49 crore on 6.1% decline in total income to Rs 81.38 crore in Q3 September 2014 over Q3 September 2013.

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