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IVRCL rises on plan to sell stake in three road projects

31 Dec 2014 Evaluate

IVRCL is currently trading at Rs. 16.25, up by 0.10 points or 0.62% from its previous closing of Rs. 16.15 on the BSE.

The scrip opened at Rs. 16.40 and has touched a high and low of Rs. 16.45 and Rs. 16.15 respectively. So far 119681 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 30.75 on 22-May-2014 and a 52 week low of Rs. 9.80 on 31-Jan-2014.

Last one week high and low of the scrip stood at Rs. 16.60 and Rs. 15.15 respectively. The current market cap of the company is Rs. 641.66 crore.

The promoters holding in the company stood at 13.70% while Institutions and Non-Institutions held 12.09% and 74.22% respectively.

IVRCL is planning to sell stake in three road projects and Chennai desalination plant, all located in Tamil Nadu by end of this fiscal. This will enable the company to bring down its debt by about Rs 2,500 crore and free up Rs 600-800 crore equity.

IVRCL is engaged into engineering procurement and construction (EPC) activities in India. It conducts operations in 5 sectors namely Water and Environment, Transportation, Buildings, Power and Industrial Structures.

Peers
Company Name CMP
Larsen & Toubro 3907.95
Rail Vikas Nigam 267.80
NCC 150.25
KEC International 558.50
Kalpataru Projects 1171.00
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