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IVRCL liquidator extends deadline for expression of interest, e-auction

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The liquidator of IVRCL Ltd has announced that the last date for submission of expression of interest for sale of IVRCL, as a going concern, has been extended to October 22.

The date of e-auction has also been extended to October 23, while all other terms announced earlier for sale remain the same.

In a regulatory filing, Sutanu Sinha, Liquidator of IVRCL, appointed by the National Company Law Tribunal, Hyderabad, has informed about the extension of the date for both expression of interest and electronic auction of the Hyderabad-based infrastructure company.

During the course of the insolvency proceedings taken up under the Insolvency and Bankruptcy Code, 2016, there was no suitable suitor for the company as the Committee of Creditors rejected the resolution plan filed in the NCLT.

Earlier, the deadline for submission of Expression of Interest under liquidation process was extended to October 14.

Trading in the company shares has been suspended due to ‘procedural reasons’.





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Asia Tonight: Business news in brief Nov 20

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Business Briefs on Asia Tonight, Nov 20:
— Malaysia’s October Consumer Price Index (CPI) up 1.1%
— Emirates has ordered 30 Boeing 787s and reduced 777X order to 126 jets

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Target is the retail trade of 2019, with the stock up nearly 90%

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Target CEO Brian Cornell appears on CNBC after ringing the opening bell at the New York Stock Exchange on the morning of November 28, 2014 in New York City.

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Target is far and away the best performing retail stock of 2019.

After reporting third-quarter results on Wednesday that crushed Wall Street’s expectation, Target shares rose 12% from its previous close of $110.85. Target’s shares are up nearly 90% this year, topping even the strong performances of TJX Companies and Walmart, and is this year’s sixth-best performing stock on the S&P 500 index.

«We thought the market was already pricing in more of TGT’s progress, but today’s results (esp. margin expansion) came in well above even the most bullish expectations,» Goldman Sachs wrote in a note to investors.

Target also raised its profit outlook for the full year, ahead of the all-important holiday shopping season, while cutting the cost of handling online orders.

«Overall, we believe Target’s strategic transformation initiatives—price investment in everyday items, differentiating merchandising with new private brands, remodeling stores, and investing in digital and delivery, including Shipt—are resonating with consumers,» Telsey Advisory Group wrote in a note to investors.

Options trader Pete Najarian believes Target’s stock will climb even higher, saying on CNBC’s «Halftime Report» that he expects more strong revenue from the company’s investment in private label products.

«When you look at what’s going on with Target – whether it’s in the grocery space or the rest of the store, and there’s five different segments to their store in terms of revenue streams – they have private label everywhere and that is something that will be huge for them. That just helps and is something that’s going to kick in for Target in the future as well,» Najarian said.

– CNBC’s Michael Bloom and Lauren Thomas contributed to this report.



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ভারতের উইকেট হবে পেস বান্ধব ।Sports news today। khelar khobor today।bangladesh cricket news

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ভারতের উইকেট হবে পেস বান্ধব ।Sports news today। khelar khobor today।bangladesh cricket news

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