IVRCL shares slide; company to sell assets
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)
- Tweet this
- Share this
- Digg this
- Three major nations absent as China launches World Bank rival in Asia
- Microsoft sales beat Street hopes, cloud profits up
- China's Xiaomi shifts some smartphone user data out of Beijing on privacy concerns
- Gold sales jump about 20 pct for Diwali - trade body
- Google launches new email service dubbed "Inbox"
The latest Reuters poll of 20 economists taken over the past week shows Asia's third-largest economy will likely grow 5.5 percent this fiscal year and 6.4 percent the next, slightly better than 5.3 percent and 6.3 percent expected in the July poll. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article