India Infoline gains on receiving approval to restructure group business

02 Apr 2013 Evaluate

India Infoline is currently trading at Rs. 63.10, up by 0.75 points or 1.20% from its previous closing of Rs. 62.35 on the BSE.

The scrip opened at Rs. 64.35 and has touched a high and low of Rs. 64.35 and Rs. 61.55 respectively. So far 31,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 93.35 on 18-Dec-2012 and a 52 week low of Rs. 44.10 on 11-May-2012.

The current market cap of the company is Rs. 1,941.00 crore.

The promoters holding in the company stood at 31.61% while Institutions and Non-Institutions held 44.20% and 24.19% respectively.

India Infoline has received an in-principle approval to restructure the group business including transfer of company’s broking, DP, PMS and Investment Banking business to a wholly owned subsidiary through appropriate scheme/ arrangements. The board of company at its meeting held on April 01, 2013 has considered and approved for the same.

For this purpose the board has appointed a Committee of Directors to finalize the re-arrangements within the group, scheme and all other requirements including the regulatory and other approvals.

India Infoline offers financial services ranging from equities, derivatives, commodities, wealth management, asset management, insurance, fixed deposits, loans, investment banking, GoI bonds and other small savings instruments.

IIFL Finance Share Price

407.25 -12.35 (-2.94%)
20-Dec-2024 16:59 View Price Chart
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