IL&FS Transportation jumps after announcing fund raising plans

IL&FS Transportation Networks jumped 7.98% to Rs 79.20 at 12:00 IST on BSE after the company announced that the Committee of Directors approved the allotment of debentures aggregating to Rs 200 crore.

The announcement was made during market hours today, 1 July 2016.

Meanwhile, the BSE Sensex was up 199.51 points, or 0.74%, to 27,199.23.

High volumes were witnessed on the counter. On BSE, so far 2.63 lakh shares were traded in the counter, compared with an average volume of 68,232 shares in the past one quarter. The stock hit a high of Rs 80.80 and a low of Rs 73 so far during the day. The stock hit a 52-week high of Rs 151.88 on 20 July 2015. The stock hit a record low of Rs 64 on 26 February 2016. The stock had outperformed the market over the past one month till 30 June 2016, gaining 5.01% compared with Sensex's 1.03% gains. The stock had also outperformed the market in past one quarter, rising 6.92% as against Sensex's 6.56% rise.

The mid-cap company has an equity capital of Rs 328.96 crore. Face value per share is Rs 10.

IL&FS Transportation Networks announced that the Committee of Directors had approved yesterday, 30 June 2016 the allotment of 200 rated, listed, redeemable, non-convertible debentures - the debentures of the face value of Rs 10 lakh aggregating to Rs 200 crore on a private placement basis.

On a consolidated basis, IL&FS Transportation Networks' net profit rose 3.3% to Rs 80.42 crore on 78.2% rise in net sales to Rs 2547.98 crore in Q4 March 2016 over Q4 March 2015.

IL&FS Transportation Networks has grown into the largest BOT (build, operate and transfer) road assets owner in India.

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