IL&FS Transportation Networks rose 3.13% to Rs 130 at 12:32 IST on BSE after the company said it has emerged as the lowest bidder for two road projects in Kerala.
Meanwhile, the S&P BSE Sensex was down 126.79 points or 0.57% at 22,232.71.
On BSE, so far 32,000 shares were traded in the counter as against average daily volume of 25,063 shares in the past one quarter.
The stock hit a high of Rs 130.95 and a low of Rs 128 so far during the day. The stock had hit a 52-week high of Rs 182.86 on 8 April 2013. The stock had hit a record low of Rs 93.67 on 19 September 2013.
The stock had outperformed the market over the past one month till 4 April 2014, surging 22.46% compared with the Sensex's 5.42% rise. The scrip had, however, underperformed the market in past one quarter, declining 4.45% as against Sensex's 7.23% rise.
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The company has equity capital of Rs 246.72 crore. Face value per share is Rs 10.
IL&FS Transportation Networks (ITNL) said that the company has emerged as the lowest bidder for two road projects in Kerala. ITNL had submitted bids with the Road Infrastructure Company Kerala for Rehabilitation of State Highways and Major District Road - Package III(A) total 96.72 KM and Package III(B) total 97.54 KM in Southern Region in Kerala under DBFMT on annuity basis. The projects are on annuity (fixed semi-annual payment) basis with a concession period of 15 years including construction period of 730 days and the estimated cost of the project III(A) is Rs 121.44 crore and project III(B) is Rs 168.16 crore, ITNL said in a statement.
ITNL said it had quoted an annuity (fixed semi-annual payment) of Rs 35.35 crore for project III(A) and Rs 44.50 crore for project III(B).
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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