IFCI soars 2.39 per cent on Hardicon stake sale reports
DSIJ Intelligence / 24 Jan 2017
Industrial Finance Corporation of India (IFCI) has soared 2.39 per cent gained on the bourses on Tuesday as reports of its board approving the sale of its entire stake of 45.5 per cent in its associate company Hardicon Ltd. came in.
IFCI soars 2.39 per cent on Hardicon stake sale reports
Industrial Finance Corporation of India (IFCI) has soared 2.39 per cent gained on the bourses on Tuesday as reports of its board approving the sale of its entire stake of 45.5 per cent in its associate company Hardicon Ltd. came in.
IFCI has been outperforming the broader markets by gaining more than 13 per cent over one the last one month. The stock has delivered returns of 25 per cent over one year.
The market was buoyed by HDFC Bank’s earnings, with Nifty closing above its two month high of 8450
level.
IFCI is an India government-owned development bank catering to the financial needs of the industrial sector.