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IVRCL Tanks Nearly 12 Percent After Kolkata Flyover Mishap

The stock tumbled 10.79 per cent to hit its one-year low of Rs 5.70 on BSE.

Published: 01st April 2016 12:50 PM  |   Last Updated: 01st April 2016 12:50 PM   |  A+A-

PTI3_31_2016_000241B

Kolkata Rescue operations going on after an under-construction flyover collapsed on Vivekananda Road in Kolkata on Thursday | PTI

By PTI

MUMBAI: Shares of infrastructure firm IVRCL came under huge selling pressure for the second consecutive day, plummeting nearly 12 per cent, after a portion of a flyover being built by the company in Kolkata collapsed, killing at least 24 people and injuring several others.

The stock tumbled 10.79 per cent to hit its one-year low of Rs 5.70 on BSE. At NSE, it crashed 11.71 per cent to Rs 5.65 - its 52- week low.

In the previous session also, the stock had lost 6 per cent following the news. The death toll in the mishap has climbed to 24 after three more bodies were recovered from underneath the piles of debris of concrete and iron girdles of the broken portion of the under-construction bridge.

Meanwhile, terming the mishap as "unfortunate", IVRCL has said it will cooperate with the state authorities in probing the incident.

"IVRCL grieves the loss of precious lives and injuries to people and will cooperate with the authorities in investigating this accident," IVRCL had said replying to a clarification sought by BSE on the incident yesterday.

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