IVRCL up over 6%

IVRCL is a stock very much in focus today. Opening slightly higher, it soon shot up to Rs.16.95, up over 6%.

The stock is in the limelight after the CMD of the company, at the AGM stated that his company was putting up Rs.4000 crore worth assets for sale which included operational as well as under construction road projects and its desalination plant in Chennai. The company’s aim is to get out of debt in the next two years. It has got the CDR approval for debt recast to the tune of Rs.7300 crore.