India's IL&FS Engineering, Transportation gain on group's restructuring plan to pay liabilities
Shares of IL&FS Engineering and Construction Co surged as much as 16.9 per cent, while those of IL&FS Transportation Networks Ltd rose 9.3 per cent.
Group company Infrastructure Financing and Leasing Services Ltd (IL&FS) said on Saturday it will develop a "comprehensive" restructuring plan to pay its liabilities.
A series of defaults at IL&FS, have roiled India's financial markets over the past month and sparked fears of a crisis in the non-banking financial services sector.
More than 417,000 ILFE shares traded, vs 30-day average of around 264,300.
ILFE stock was down 75.7 per cent this year as of last close, while that of ILFT tanked 73.1 per cent during the period.
Group company Infrastructure Financing and Leasing Services Ltd (IL&FS) said on Saturday it will develop a "comprehensive" restructuring plan to pay its liabilities.
A series of defaults at IL&FS, have roiled India's financial markets over the past month and sparked fears of a crisis in the non-banking financial services sector.
More than 417,000 ILFE shares traded, vs 30-day average of around 264,300.
ILFE stock was down 75.7 per cent this year as of last close, while that of ILFT tanked 73.1 per cent during the period.