IL&FS Transportation Networks rose 2.77% to Rs 116.75 at 11:16 IST on BSE after the firm said it has approved the allotment of 1,000 rated, listed, redeemable, non-convertible debentures aggregating to Rs 100 crore on a private placement basis.
The company made the announcement after market hours on Wednesday, 5 March 2014.
Meanwhile, the S&P BSE Sensex was up 79.47 points or 0.37% at 21,356.33.
On BSE, so far 7,784 shares were traded in the counter as against average daily volume of 14,392 shares in the past one quarter.
The stock hit a high of Rs 117.50 and a low of Rs 115 so far during the day. The stock had hit a 52-week high of Rs 206.25 on 6 March 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 5 March 2014, declining 1.6% compared with the Sensex's 5.01% rise. The scrip had also underperformed the market in past one quarter, sliding 15.1% as against Sensex's 1.52% rise.
The company has equity capital of Rs 194.27 crore. Face value per share is Rs 10.
IL&FS Transportation Networks (ITNL) said that the Committee of Directors approved the allotment of 1,000 rated, listed, redeemable, non-convertible debentures of the face value of Rs 10 lakh each aggregating to Rs 100 crore on a private placement basis on Tuesday, 4 March 2014. These debentures will be listed on the National Stock Exchange of India (NSE), the company said.
The company had earlier issued 10,000 debentures of Rs 10 lakh each aggregating Rs 1000 crore. With the aforesaid allotment the company has as of date issued and allotted 11,000 debentures of Rs. 10 lakh each aggregating to Rs 1100 crore.
ITNL's consolidated net profit rose 5.5% to Rs 109.83 crore on 11.4% growth in net sales to Rs 1965.90 crore in Q3 December 2013 over Q3 December 2012.
ITNL 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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