Will IVRCL survive hostile bid

The stock of IVRCL will be in the thick of action as the company is being targeted by Essel group. The Subhash Chandra-promoted Essel Group has acquired over 13 per cent stake in IVRCL through open market purchases. With this, the Essel Group has two percentage points higher stake in IVRCL compared to the promoter and promoter group of the company, who hold just 11.2 per cent. The stock will see a plenty of reaction as Essel group is keen to hike further stake in the company.