IL&FS Transportation Networks rose 2.16% to Rs 106.45 at 14:04 IST on BSE after the company said it has secured a road project worth about Rs 1348.52 crore in Spain.
The company made the announcement during trading hours today, 21 February 2014.
Meanwhile, the S&P BSE Sensex was up 122.46 points or 0.6% at 20,659.10.
On BSE, so far 22,000 shares were traded in the counter as against average daily volume of 15,583 shares in the past one quarter.
The stock hit a high of Rs 109.90 and a low of Rs 104.20 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 20 February 2014, declining 15.97% compared with the Sensex's 3.15% fall. The scrip had also underperformed the market in past one quarter, sliding 11.09% as against Sensex's 0.48% fall.
The small-cap company has equity capital of Rs 194.27 crore. Face value per share is Rs 10.
IL&FS Transportation Networks (ITNL) said that the company in joint venture with Elsamex SA, wholly owned subsidiary of the company in Spain has been awarded a contract by Roads Department Ministry of Transport and Communications, Republic of Botswana under Output and Performance Based Road Contracts system (OPRC) for a period of 10 years effective 19 February 2014.
The total length of the roads to be maintained for both the contracts is 267.4 KM for a total value of $216.7 million (approx. Rs 1348.52 crore), which are being financed by the World Bank, ITNL said in a statement.
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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