IL&FS Transportation dips on toll exemption notice

The Maharashtra Govt has directed the company to exempt Light Motor Vehicles and MSRTC buses from paying toll

Shares of IL&FS Transportation Networks were down nearly 2% after the company said it has received toll exemption notice from the Government of Maharashtra.

The company has received directions from the Government of Maharashtra to exempt Light Motor Vehicles and MSRTC buses from paying toll passing through the road stretch, IL&FS Transportation Networks said in a release today.

The shortfall of toll revenue due to the above notification will be compensated by the  Government of Maharashtra in due course, the release added.

The stock opened at Rs 147.50 and touched a low of Rs 145. At 12:20PM, nearly 50,000 shares were traded on both the stock exchanges.