Shares of IL&FS dropped in the afternoon session after a media report stated that the Enforcement Directorate (ED) carried out searches in connection with the IL&FS payment default. The ED conducted searches at multiple locations in Mumbai and Delhi-NCR in connection with the IL&FS payment default crisis, the report added.
IL&FS has defaulted on payment of loans to SIDBI and along with its subsidiaries has a combined debt of over Rs91,000cr, according to the report.
IL&FS Engineering & Construction Co Ltd
is currently trading at Rs10.81 down by Rs0.56 or 4.93% from its previous closing of Rs11.37 on the BSE.
IL&FS Transportation Networks Ltd
is currently trading at Rs6.74 down by Rs0.35 or 4.94% from its previous closing of Rs7.09 on the BSE.
IL&FS Investment Managers Ltd
is currently trading at Rs4.84 up by Rs0.02 or 0.41% from its previous closing of Rs4.82 on the BSE. The scrip opened at Rs4.94 and has touched a high and low of Rs4.97 and Rs4.62 respectively.