NSE, BSE seek clarification from IL&FS Transportation on Orix Stake Increase
Moneylife Digital Team 24 September 2018
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have asked IL&FS Transportation Networks Ltd to clarify on a news about majority stake purchase by Japan's Orix Corp in the company's parent Infrastructure Leasing & Financial Services (IL&FS).
Following the news, NSE says, on 24th September it observed that price of the company's scrip increased by 20% to Rs24.30 from Rs20.25. The Exchange had asked IL&FS Transportation Networks to inform whether there are any negotiations taking place between Orix and IL&FS.
In its clarification to the bourses, IL&FS Transportation Network sayd, "....the said news item pertains to IL&FS and not to the Company, hence we are unable to comment on the same."
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