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
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Health workers strike at Sierra Leone Ebola hospital
- U.S. planes strike militants near Iraq's Amerli, airdrop aid
- Modi seeks Japan's help for 'inclusive vision' on first big trip
- India says Pakistan border clashes "extremely serious and provocative"
India is better prepared to handle the impact of interest rate increases in the United States as foreign funds are less likely to desert the country due to signs of an upturn in economic growth, the Reserve Bank of India (RBI) chief said in an interview published on Sunday. Full Article
Exclusive: Reliance plans $13 billion projects including new refinery. Full Article
Bahrain Batelco says India ex-partner is bankrupt, seeks $212 million owed Full Article