IL&FS Transportation Networks rose 2.72% to Rs 113.45 at 10:05 IST on BSE after the company said that one of its subsidiaries reduced its interest cost by refinancing its debt.
The announcement was made before trading hours today, 8 May 2017.Meanwhile, the S&P BSE Sensex was up 84.27 points, or 0.28% to 29,943.07.
On the BSE, 7,576 shares were traded in the counter so far, compared with average daily volumes of 1.26 lakh shares in the past one quarter. The stock had hit a high of Rs 113.50 and a low of Rs 111.90 so far during the day. The stock hit a 52-week high of Rs 124.80 on 12 January 2017. The stock hit a 52-week low of Rs 65.85 on 19 August 2016.
The stock had underperformed the market over the past one month till 5 May 2017, falling 3.07% compared with 0.23% decline in the Sensex. The scrip had also underperformed the market in past one quarter, rising 0.18% as against Sensex's 5.73% rise.
The mid-cap company has equity capital of Rs 328.96 crore. Face value per share is Rs 10.
Jharkhand Road Projects Implementation Company, a subsidiary of IL&FS Transportation Networks has refinanced its debt of Rs 1730 crore availed for development five road stretches in Jharkhand by issuing non-convertible debentures at a weighted average coupon of 9.45% per annum, resulting in reduction of interest cost by approximately 205 basis points.
IL&FS Transportation Networks reported net profit of Rs 55.66 crore in Q3 December 2016 as against net loss of Rs 19.42 crore in Q3 December 2015. Net sales dropped 23.8% to Rs 763 crore in Q3 December 2016 over Q3 December 2015.
IL&FS Transportation Networks is a BOT (build, operate and transfer) road assets owner in India.
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