IVRCL shares slide; company to sell assets

Tue Jan 29, 2013 5:16pm IST

Related Topics

Stocks

   

Reuters Market Eye - Shares in IVRCL Ltd (IVRC.NS) 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 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."

(Reporting by Abhishek Vishnoi)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Kerry in India

REUTERS SHOWCASE

Deadly Landslide

Deadly Landslide

Landslide near Pune kills 10, scores feared trapped.  Full Article 

Fed Policy

Fed Policy

Fed presses forward with bond buying, cites uptick in inflation.  Full Article 

Big Infra Deal

Big Infra Deal

Piramal, Dutch APG tie up for $1 bln infra investment  Full Article 

E-Commerce

E-Commerce

Amazon says to invest $2 billion more in India   Full Article 

Lupin Results

Lupin Results

Q1 net profit up 56 percent on higher U.S. drug sales   Full Article 

Smuggling Gold

Smuggling Gold

Air India staff found smuggling gold  Full Article 

Economy Reboots

Economy Reboots

U.S. economy back on track with strong second-quarter rebound .  Full Article 

Auto Sector

Auto Sector

VW closes in on Toyota as global auto leader  Full Article 

Expanding Reach

Expanding Reach

Tata to invest $35 bln over 3 years, focus on new businesses   Full Article 

Reuters India Mobile

Reuters India Mobile

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