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Foreign funds purchase shares worth over Rs 40 crore in IVRCL

10 Oct 2012 Evaluate

Four entities, including foreign funds have bought shares in infrastructure firm IVRCL worth over Rs 41 crore through open market transactions. Foreign fund house Merrill Lynch Capital Market Espana has purchased shares worth Rs 23.2 crore in the company. Of which, the firm has bought 29.08 lakh shares at an average price Rs 47.45 apiece while, it acquired another 20 lakh shares for an average price of Rs 47.09 apiece.

Another foreign fund house BNP Paribas Arbitrage has bought shares worth Rs7.36 crore in the company. It purchased 15.88 lakh shares for an average price of Rs 46.40. Meanwhile, foreign fund house Societe Generale has purchased 22.20 lakh scrips of IVRCL for an average price of Rs 46.2 valuing the deal at Rs 10.25 crore. Besides, Pashupati Capital Services has bought 1.60 lakh shares of the company at Rs 46.62 apiece for deal worth Rs 74.83 lakh.

Recently, Essel Group sold an additional 1.5% stake in the infrastructure firm IVRCL for a little over Rs 20 crore. Subhash Chandra-led Essel group’s entity Asian Satellite Broadcast offloaded yet another 45.50 lakh shares of IVRCL at Rs 45.46 a share amounting to Rs 20.68 crore on the National Stock Exchange (NSE).

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 4094.95
Rail Vikas Nigam 303.10
NCC 161.30
KEC International 580.10
Kalpataru Projects 1232.90
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