IL&FS Transportation Networks, the transportation infrastructure company, surged on Monday after the company submitted bids with the Road Infrastructure Company Kerala (RICKL) for rehabilitation of state highways and major district roads-package III (A) Southern Region Total 96.72 Km and Rehabilitation of State Highways and Major District Roads - Package III (B) Southern Region Total 97.54 Km in the state of Kerala under DBFMT on annuity basis.

The projects estimated cost of project IIIA is Rs 1.21 billion and project IIIB is Rs 1.68 billion. The company had quoted an annuity of Rs 353.5 million for project IIIA and Rs 445 million for project IIIB.

The bids were opened on Apr.04,2014 by RICKL and the company has emerged as the lowest bidder for the afore said projects.

Shares of the company are trading at Rs 131, up Rs 4.95, or 3.93% at the Bombay Stock Exchange (BSE) on Monday at 3:32 p.m.

The scrip has touched an intra-day high of Rs 132.35 and low of Rs 128. The total volume of shares traded at the BSE is 67,758.

In the earlier session, the shares climbed 3.4%, or Rs 4.15, at Rs 126.05. Currently, the stock is trading down 28.36% from its 52-week high of Rs 182.86 and above 39.84% over the 52-week low of Rs 93.68.