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Stock Review: IL&FS Transportation Networks Limited

 

 

IL&FS Transportation Networks Limited (ITNL) is an infrastructure development and finance company which was incorporated in 2000 by IL&FS. ITNL develops, operates and maintains national and state highways, roads, flyovers and bridges. It is one of the largest private-sector BOT road operators in India.

 

The company has strong parentage support from IL&FS, whose shareholders include LIC, SBI, HDFC, Central Bank of India, CORIX Corporation of Japan and Abu Dhabi Investment Authority. Further, it operates in a high-growth sector. The Indian government plans to make massive investments in infrastructure in the coming years.

 

To strengthen its position as a leader in Indian transportation infrastructure industry and gain entry into the lucrative markets of Europe and Latin America, the company had in 2008 acquired Elsamex SA of Spain, a leading road maintenance company.

 

Recently in March 2010, the company debuted on the bourses via an initial public offering (IPO). Currently, the share is trading at a price of around Rs 358.

 

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