In preparation of the National Stock Exchange listing, IFCI Ltd., a non-banking financial company, continued its rising for the second day and reached a two-month high on Tuesday.
Tuhin Kanta Pandey, the head of the Securities & Exchange Board of India, stated on Saturday that the regulator is may choose to give the NSE a no-objection certificate for its public offering by the end of this month.
Shareholder data on the NSE shows that Stock Holding Corporation of India has a 4.4% interest. But in 2024, IFCI was given permission to shows Stock Holding Corporation of India into itself. This indicates that IFCI owns a stake in the NSE through the Stock Holding Corporation of India, pushing the stock to a new two-month high.
In a study released in December 2002, ICRA stated that “IFCI will benefit from the sizeable stake held by Stock Holding Corporation (SHCIL) in the National Stock Exchange, thus improving its financial flexibility.”
IFCI is a public sector financial institution that does not accept deposits or function as a bank. It started out as an official entity in 1948. It is required to enable the diverse growth of industries. According to information on its website, the corporation has six subsidiaries and one associate.
Since 1984, IFCI has served as the Sugar Development Fund’s nodal agency for monitoring loans.
Projects such as Adani Mundra Ports, GMR Goa International, Salasar Highways, NRSS Transmission, and Raichur Power Corp. received financial funding from IFCI.
IFCI Share Price Today
On Tuesday, IFCI shares reached a one-month high, continuing the trend of rising for the second straight session. The scrip reached its highest level since the end of october Tuesday, rising as much as 5.62% to Rs 59.60 a share. As of 9:56:23 a.m., it cut losses to trade 2.68% higher at Rs 57.97 per share. This compares with the NSE Nifty 50 Index’s 0.25% drop.
Over the past 12 months, it has increased by 12.51%. The day’s total traded volume was 5.03 times higher than its 30-day average. The indicator of relative strength was 66.10.
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