NEW DELHI: Shares of the IL&FS group companies hit their lower circuit levels on Tuesday after the parent company on Monday said it was unable to service obligations for inter corporate deposit due October 8.
IL&FS Investment Managers shares slipped 5 per cent to Rs 9.32, while IL&FS Engineering (ILFE) and Construction and IL&FS Transportation (ILFT) dipped 10 per cent and 9.91 per cent, respectively.
Government recently took control of the infrastructure financing and construction major last week, after company defaulted on some of its debt obligations in recent weeks, sparking concerns about risk in the rest of the country's financial sector.
More than 166,000 shares of ILFT change hands, compared with 30-day moving average of 1.4 million shares, while over 187,000 ILFE shares were traded as against 432,192 30-day moving average.
On a year-to-date basis, shares of ILFT slipped over 65 per cent as of last close, while ILFE lost 58.6 per cent during the same period.
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