IVRCL shares up 5% on bourses

Shares of IVRCL today rose by 5 per cent after the Corporate Debt Restructuring Empowered Group (CDR EG) approved the CDR proposal submitted by the company.
The construction and engineering major's shares ended the day 4.91 per cent higher at Rs 27.80 -- its upper circuit limit for the day on the BSE.
At the NSE, the stock closed the day at Rs 27.75, with a gain of 4.91 per cent.
IVRCL Ltd had informed BSE yesterday that the Corporate Debt Restructuring Empowered Group (CDR EG), at its meeting held on June 28, 2014, have approved the Corporate Debt Restructuring proposal submitted by the company.

The Board of Directors of the company in its meeting held on June 30, 2014 passed necessary resolutions for the implementation of the approved corporate debt restructuring scheme and also to obtain the shareholders approval for passing the necessary resolutions, it had said.