Noida Toll Bridge Company’s scrip plunges by almost 20 per cent

The company's scrip fell by almost 20 per cent to touch its lower circuit breaker limit during the early morning trade session.

By: IANS | Mumbai | Updated: October 27, 2016 1:34 pm
Noida: People celebrate after Allahabad high court has restrained the Noida Toll Bridge Company Ltd (NTBCL) from collecting user fee or toll from commuters on (Delhi-Noida-Direct) DND flyway connecting Noida and Delhi on Wednesday. PTI Photo (PTI10_26_2016_000277B) People celebrate after Allahabad high court has restrained the Noida Toll Bridge Company Ltd (NTBCL) from collecting user fee or toll from commuters on (Delhi-Noida-Direct) DND flyway connecting Noida and Delhi on Wednesday. PTI Photo

The stock of Noida Toll Bridge Company (NTBCL) which operates the “Delhi Noida Toll Bridge”, better known as the Delhi-Noida-Direct (DND) Flyway plunged on Thursday. The company’s scrip fell by almost 20 per cent to touch its lower circuit breaker limit during the early morning trade session.

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The massive fall occurred a day after the Allahabad High Court ordered NTBCL to stop collecting toll from commuters on the DND Flyway. At the BSE, stock of NTBCL declined by 19.96 per cent to Rs 17.85.

The company was formed as a special purpose vehicle (SPV) with equity participation from Infrastructure Leasing and Financial Services (IL&FS) Transportation Networks and NOIDA (New Okhla Industrial Development Authority).

The company is also the only listed toll road in the country. It is listed on both the major domestic indices as well as the AIM exchange, London. The scrip of IL&FS Transportation Networks, slipped by 1.54 per cent at Rs 111.60.