MARKET EYE-India's IVRCL shares slide; company to sell assets

Tue Jan 29, 2013 4:42pm IST

Related Topics

Stocks

   

* Shares in IVRCL Ltd slumped 8.9 percent on Tuesday,
bringing its monthly fall so far to 28.5 percent, on continued
speculations that the construction firm was facing funding
challenges.
* IVRCL shares fell even as a senior executive told a TV news
channel the company was looking to raise 4 billion rupees
($74.20 million) by the end of March by selling assets.
* "Funding shortage is there, but we have already initiated the
sale of some assets," said R Balarami Reddy, chief financial
officer of IVRCL, in an interview to news channel ET Now.
* "Once it comes to the final stage we will announce."

 (abhishek.vishnoi@thomsonreuters.com /;
aditi.shah@thomsonreuters.com)
FILED UNDER:

Reuters Showcase

GDP Growth

GDP Growth

India revises up 2013/14 GDP growth to 6.9 percent.  Full Article 

Adani Restructuring

Adani Restructuring

Adani hives off power, ports businesses to boost growth.  Full Article 

Bank of Baroda

Bank of Baroda

Q3 net profit down 69 pct on higher provisions  Full Article 

Trading Fees

Trading Fees

BSE slashes fees in FX derivatives battle with NSE  Full Article 

SpiceJet Turnaround

SpiceJet Turnaround

SpiceJet board approves up to $243 mln share sale plan  Full Article 

Currency Market

Currency Market

RBI urges companies to hedge FX exposure  Full Article 

Banking Sector

Banking Sector

Banks say no room to cut lending rates, thwarting RBI easing  Full Article 

ICICI Results

ICICI Results

ICICI sets quarterly record profit as Q3 net rises 14 pct  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage