IVRCL rose 1.75% to Rs 17.40 at 14:48 IST on BSE after the company said it has allotted 8.79 crore equity shares of Rs 2 each to the CDR lenders.
The announcement was made during market hours today, 5 December 2014.
Meanwhile, the S&P BSE Sensex was down 49.79 points or 0.17% at 28,513.03.
On BSE, so far 5.08 lakh shares were traded in the counter as against average daily volume of 4 lakh shares in the past one quarter.
The stock hit a high of Rs 17.85 and a low of Rs 17.05 so far during the day. The stock had hit a 52-week high of Rs 30.75 on 22 May 2014. The stock had hit a 52-week low of Rs 9.80 on 31 January 2014.
The stock had underperformed the market over the past one month till 4 December 2014, sliding 16.59% compared with Sensex's 2.52% rise. The scrip had also underperformed the market in past one quarter, declining 7.57% as against Sensex's 5.45% rise.
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The small-cap company has equity capital of Rs 61.38 crore. Face value per share is Rs 2.
IVRCL said it has made an allotment of 8.79 crore equity shares of Rs 2 each yesterday, 4 December 2014 to the CDR lenders who have signed the master restructuring agreement. This allotment is towards first tranche of conversion of FITL into equity for the period from 1 December 2013 to 30 September 2014, IVRCL said.
IVRCL reported a net loss of Rs 187.55 crore in Q2 September 2014, higher than net loss of Rs 122.49 crore in Q2 September 2013. Net sales declined 45.6% to Rs 611.50 crore in Q2 September 2014 over Q2 September 2013.
IVRCL operates in the core infrastructure sectors of water & environment, transportation, buildings and power.
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