 "IVRCL hits multi-year low")
Shares of construction & engineering company, IVRCL, have dipped to its lowest level since July 2003 at Rs 5.70 on the BSE, dropping 16% in the past two trading sessions. The collapse of an under-construction flyover in Kolkata on Thursday dampened sentiment for the stock.
IVRCL in a press release said, the Vivekananda Flyover project in Kolkata, under execution by the company, has suffered an accident on March 31, 2016 caused by an under construction section falling down.
The 2.2-km Vivekananda Road flyover was being funded under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). Its construction had got stuck midway after several hurdles. CLICK HERE TO READ FULL REPORT.
At 01:01 PM, the stock was down 6.4% at Rs 5.98 on the BSE as compared to 0.74% decline in S&P BSE Sensex. The trading volumes on the counter jumped nearly four-fold with a combined 8.25 million shares changed hands on the NSE and BSE so far.
IVRCL in a press release said, the Vivekananda Flyover project in Kolkata, under execution by the company, has suffered an accident on March 31, 2016 caused by an under construction section falling down.
The 2.2-km Vivekananda Road flyover was being funded under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). Its construction had got stuck midway after several hurdles. CLICK HERE TO READ FULL REPORT.
At 01:01 PM, the stock was down 6.4% at Rs 5.98 on the BSE as compared to 0.74% decline in S&P BSE Sensex. The trading volumes on the counter jumped nearly four-fold with a combined 8.25 million shares changed hands on the NSE and BSE so far.