IFCI Share Price
What better time than now to seize the opportunity presented by the current situation and address some burning questions from our readers?
Before diving in, it's important to understand some key aspects about IFCI.
Over the past five trading sessions, IFCI's stock price has surged by nearly 20%.
This remarkable increase takes its gains for 2024 to an impressive 85%!
Let's explore the factors driving IFCI's stock price before discussing its growth prospects and other important details.
Why IFCI Share is Rising
Firm Turns Profitable After 7 Long Years!
The primary reason behind the current optimism is that the government-owned NBFC turned profitable in FY24, posting a profit after seven consecutive years of losses.
Here's what the company's financials looked like before.
According to its annual report for FY23, the company holds shares in LIC as well as the unlisted National Stock Exchange of India (NSE).
As and when NSE decides to list on the exchanges, IFCI could be an indirect beneficiary via its holding in Stock Holding which has shares of NSE.
Back in 2019, IFCI had already realised some Rs 8.1 billion from the divestment of its 2.44% stake in NSE.
How IFCI Share Price has Performed Recently
In the past 5 days, IFCI share price has shot up by 18%!
That takes its year to date (YTD) gains to over 85%. IFCI is on its way to churn multibagger returns in a little over 4 months.
IFCI has a 52-week high of Rs 71.7 touched on 8 February 2024 and a 52-week low of Rs 11 touched on 30 May 2023.
In the past one year, shares of the company have rallied over 330%.
About IFCI
Erstwhile Industrial Finance Corporation of India, IFCI is a state-owned non-banking finance company established to cater to the long-term finance needs of the industrial sector.
The company's financing activities cover various kinds of projects such as airports, roads, telecom, power, real estate, manufacturing, services sector, and other allied industries.
To point out some of IFCI's big projects, it has financed projects including Adani Mundra Ports and GMR Goa International Airport.
To know more, check out IFCI's financial factsheet.
IFCI, NBFC, stock price, FY24, profit, financial turnaround, growth prospects, trading sessions, government-owned
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