IFCI soars on receiving approval to submit application for Banking License

28 Jun 2013 Evaluate

IFCI is currently trading at Rs. 24.30, up by 2.10 points or 9.46% from its previous closing of Rs. 22.20 on the BSE.

The scrip opened at Rs. 23.60 and has touched a high and low of Rs. 24.90 and Rs. 23.35 respectively. So far 26,31,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 42.75 on 11-Jul-2012 and a 52 week low of Rs. 21.25 on 27-Jun-2013.

Last one week high and low of the scrip stood at Rs. 25.20 and Rs. 21.25 respectively. The current market cap of the company is Rs. 4,038.00 crore.

The promoters holding in the company stood at 55.53% while Institutions and Non-Institutions held 17.14% and 27.33% respectively.

IFCI has received an approval to submit an application to Reserve Bank of India (RBI) for obtaining the Banking License, based on the Reserve Bank of India Guidelines for Licensing of New Banks in the Private Sector dated February 22, 2013 and the associated clarifications issued by RBI in this regard. The board of directors  of the company at its meeting held on June 27, 2013 has approved for the same.

IFCI is engaged in providing corporate loans and project-specific loans to corporate. In addition, IFCI also invests in companies through equity, preference shares and debt instruments.

The company has reported a fall of 31.61% in its net profit at Rs 149.94 crore in Q4FY13 as compared to net profit of Rs 219.25  crore in the same quarter previous year. Total income of the company has decreased by 8.25% to Rs 735.38 crore as compared to Rs 801.48 crore in corresponding quarter last year.

IFCI Share Price

55.18 -2.43 (-4.22%)
10-Jan-2025 10:31 View Price Chart
Peers
Company Name CMP
Power Finance Corp 412.70
REC 473.80
Indian Railway Finance 136.90
Satin Creditcare 150.35
MAS Financial Serv 254.40
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