October 1, 2018 / 5:04 AM / in 2 months

BUZZ-India's IL&FS Engineering, Transportation gain on group's restructuring plan to pay liabilities

** Shares of IL&FS Engineering and Construction Co surge as much as 16.9 pct, while those of IL&FS Transportation Networks Ltd rise 9.3 pct

** Group co Infrastructure Financing and Leasing Services Ltd (IL&FS) said on Saturday it will develop a “comprehensive” restructuring plan to pay its liabilities

** A series of defaults at IL&FS, have roiled India’s financial markets over the past month and sparked fears of a crisis in the non-banking financial services sector

** More than 417,000 ILFE shares traded, vs 30-day avg of around 264,300

** ILFE stock down 75.7 pct this year as of last close, while that of ILFT tanked 73.1 pct during the period

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