IVRCL upbeat on talk of PE eyeing control in company

Shares of Hyderabad-based infrastructure firm IVRCL gained 2% in a weak market on buzz a few existing private equity investors in the company are in talks with the promoters to take control of the company. An email query sent to the company in this regard remained unanswered till the time of going to print.

Promoters currently hold 11.18% stake in the company while foreign institutional investors hold 37.11% as on December 31. Around 2.8 crore shares were traded on both the exchanges on Monday against an average daily volume of 1.5 crore shares in the past five days.