The Hindu Business Line : IFCI gains on turnaround story

IFCI attracted significant buying on the company's turnaround story. Its shares shot up by over 9 per cent on Wednesday to Rs 14.07, up from the previous close of 12.90.

Dealers said the company was able to bring down its net NPAs to nine per cent from about 29 per cent, reviving hopes of a higher growth in coming quarters. The FI is also looking for merger with a bigger financial institution during this fiscal or early next year, dealers said. The counter attracted volumes of over 1.72 crore shares on the BSE as compared to the two-week average of about 52 lakh shares.

Rajesh Abraham

More Stories on : Stocks | Financial Institutions | Ear to the ground

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Benchmark MF lines up 2 open-ended debt plans

This SOX hurts

HDFC MF opens office in Coimbatore

BF Utilities high on realty play

Reliance Natural okays FCCB issue

SBBJ mulls stock split, public issue

IFCI gains on turnaround story

Timex Watches up on growth plans

Bulls ablaze

Varun Shipping files draft prospectus in Singapore

Quibbling over QIBs

`NSDL to seek new service providers for MAPIN'

Uptrend in Sensex continues as banking, oil stocks shine

Aviation cos set to tap IPO market to fund expansion

Malwa Ind plans IPO

Gangotri Textiles to raise Rs 55 cr through public issue