At 10.23 am, IL&FS Transportation Networks shares were trading 0.81 per cent higher at Rs 93. (Reuters)
Share price of IL&FS Transportation Networks gained as much as 4.6 per cent in the morning trade on Thursday after the company informed BSE that its subsidiaries have signed two agreements with NHAI worth Rs 4,173.92 crore for four-laning two sections of NH-6 in Maharashtra.
At 10.23 am, IL&FS Transportation Networks shares were trading 0.81 per cent higher at Rs 93. It opened at Rs 92.25 and had touched a high and low of Rs 96.50 and 92.25, respectively, in trade so far. Sensex was down 1.40 per cent at 25,360.
“The concession agreement for development of 4-laning of Fagne-Gujarat/Maharashtra Border (Package-III) section of NH-6 in the State of Maharashtra from 510 km to 650.79 km has been signed by Fagne Songadh Expressway Ltd, a wholly-owned subsidiary of the company with National Highways Authority of India (NHAI),” IL&FS Transportation said in a BSE filing.
It further said: “The concession agreement for development of 4-laning of Amravati-Chikhli (Package-I) section of NH-6 in the state of Maharashtra from 166 km to 360 km has been signed by Amravati Chikli Expressway Ltd, a wholly-owned subsidiary of the company with National Highways Authority of India.”.
Both the projects were signed on September 08, 2015 on Build Operate Transfer basis (BOT) basis and the projects are on toll basis with a concession period of 19 years including construction period of 910 days.
For the quarter ended June 2016, IL&FS Transportation Networks reported net profit of Rs 35.76 crore, down 81.04 per cent, against Rs 188.57 crore in the corresponding quarter a year.
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