Monday, April 16, 2012

Merrill Lynch bullish on IVRCL

Merrill Lynch Capital Markets bought additional 2.125 million shares of IVRCL Ltd. in a bulk deal today as on 16th April 2012 at Rs 70.83 apiece for Rs 15 crore through an open market transcation.

Last week, Merrill Lynch Capital Markets bought 1.6 million shares of IVRCL for Rs 11.83 crore.

In March this year Essel group acquired 10.2% in IVRCL raising the speculation of hostile takeover of the infrastructure company by the Essel group.

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