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Shares of IL&FS Transportation Networks Ltd and IL&FS Engineering and Construction Company Ltd were locked in lower circuit after falling as much as 9.9 per cent as Infrastructure Leasing & Financial Services had said on Monday it was unable to service obligations for inter corporate deposit due October 8.
The Union Government took control of the infrastructure financing and construction major last week, after the 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 changed hands, compared with 30-day moving average of 1.4 million shares, while over 187,000 ILFE shares were traded vs 432,192 30-day moving average. ILFT stock had fallen 67.3 per cent this year as of last close, while ILFE lost 58.6 per cent during the same period.
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