IL&FS Transportation divests entire stake in Rajasthan Land Holdings

IL&FS Transportation on Friday announced that it has divested its entire stake in Rajasthan Land Holdings (RLHL), a subsidiary company having ownership of certain land parcels.

The company in its regulatory filing said that it has signed an agreement with Paranjape Group for the transfer of its entire stake comprising of 20,00,000 equity shares of Rs 10 each in RLHL.

Paranjape Group is engaged in real estate development in Mumbai, Pune, and other metro areas, including development of SEZ.

The announcement was made post market hours on Friday. Shares of IL&FS Transportation closed at Rs 94 per share lower by Rs 2.05 per share or 2.13% on the NSE on Friday.

IL&FS Transportation is a surface transportation infrastructure company, engaged in developing, designing, operating, maintaining and facilitating surface transportation infrastructure projects across India and overseas.

Stock view :

IL&FS Transportation Networks Ltd ended at Rs 93.65, down by Rs 2.3 or 2.4% from its previous closing of Rs 95.95 on the BSE.

The scrip opened at Rs 95.95 and touched a high and low of Rs 96.1 and Rs 93.65 respectively. A total of 261070(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3131.7 crore.

The BSE group 'A' stock of face value Rs 10 touched a 52 week high of Rs 124.8 on 12-Jan-2017 and a 52 week low of Rs 65.85 on 19-Aug-2016. Last one week high and low of the scrip stood at Rs 99 and Rs 93.65 respectively.

The promoters holding in the company stood at 73.22 % while Institutions and Non-Institutions held 7.2 % and 19.58 % respectively.

The stock traded below its 50 DMA.

IL&FS Transportation Networks Ltd :-

BSE 93.65 [2.30]    ([2.40]%)
NSE 94.20 [1.85]    ([1.93]%)


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