Il&FS Transportation drops 5% on defaulting on NCD interest payments

NEW DELHI: Shares of IL&FS Transportations dropped 5 per cent in Monday’s trade after the company said it has defaulted in payment of interest due on non-convertible debentures (NCDs) totaling Rs 3.98 crore.

The interest due was not paid due to insufficient funds, the company said in a filing to BSE.

The company made the announcment post market hours of Friday.


Following the development, the scrip hit its 5 per cent lower circuit limit at Rs 13.85 per cent.

This was the second consecutive day when the scrip hit its lower circuit limit.

The stock is trading higher than its 20-day moving average, but lower than 5-day, 50-, 100- and 200-day moving averages. The wholly owned subsidiary of debt-ridden group IL&FS has lost 83.42 per cent of its market value so far in 2018.