IVRCL was locked at 5% upper circuit at Rs 6.15 at 14:36 IST on BSE after the company announced that its lender, State Bank of India has initiated corporate insolvency resolution process against the company.
The announcement was made during market hours today, 11 January 2018.
Meanwhile, the S&P BSE Sensex was up 24.39 points, or 0.07% to 34,457.46. The S&P BSE Small-Cap index was up 58.96 points, or 0.3% to 19,962.27, outperforming the Sensex.
On the BSE, 5.69 lakh shares were traded in the counter so far, compared with average daily volumes of 5.08 lakh shares in the past two weeks. The stock was locked at a high of Rs 6.15 in intraday trade. The stock had hit a low of Rs 5.59 so far…
Read the full article at: http://www.business-standard.com/article/news-cm/ivrcl-spurts-after-lender-initiates-corporate-insolvency-resolution-process-118011100602_1.html
