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The IFCI stock has been gaining at a fair clip in the last couple of days. On Thursday, the stock gained 8.45 per cent to Rs 89.80.

This is a gain of 15.42 per cent week-on-week. Volumes also zoomed in the counter with 2.33 crore changing hands against its two-week average of 1.13 crore shares on the BSE.

However, delivery data on the NSE shows only 23 per cent (6.43 crore shares got traded).

Market talk has it that the financial institution may soon rope in strategic investors through preferential allotment of shares.

Brokers expect that the allotment could be at substantial premium to the current price.

Recently the company informed the Bombay Stock Exchange that the AGM has approved foreign institutional investors can buy a maximum of 74 per cent of the paid-up equity share capital of the company.

K.S. Badri Narayanan

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