IL&FS Transportation Networks announced that it has received a Letter of Acceptance (LoA) dated 19 January 2018 from National Highways & Infrastructure Development Corporation (NHIDCL) for construction, operation and maintenance for 2-Lane Bi-Directional Zojila Tunnel with Parallel Escape (Egress) Tunnel on Srinagar-Leh Section (the 'Project') in the State of Jammu & Kashmir on EPC mode at a cost of Rs 48.99 billion. The construction period for the project is 2555 days.

The stock had outperformed the market over the past one month till Jan. 19, 2018, rising 8.46% compared with the Sensex's 4.95% rise. It underperformed the market in past one quarter, gaining 3.62% as against 9.64% rise in the Sensex.

Shares of the company gained Rs 2.1, or 2.59%, to trade at Rs 83.15. The total volume of shares traded was 20,501 at the BSE (9.35 a.m., Monday).