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IFCI drops after 20% rally in 7 days

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Meanwhile, the Sensex was down 127.31 points or 0.66% at 19,264.55.

On BSE, 15.67 lakh shares were traded in the counter as against average daily volume of 26.73 lakh shares in the past one quarter.

The stock hit a high of Rs 34.50 and a low of Rs 32.70 so far during the day. The stock had hit a 52-week low of Rs 19.65 on 20 December 2011. The stock had hit a 52-week high of Rs 49.40 on 21 February 2012.

The stock had outperformed the market over the past one month till 5 December 2012, surging 18.8% compared with the Sensex's 3.35% rise. The scrip had also outperformed the market in past one quarter, jumping 34.13% as against Sensex's 12.01% surge.

The company has equity capital of Rs 1137.84 crore. Face value per share is Rs 10.

Shares of had rallied 20.07% in seven trading sessions to settle at Rs 33.80 on Wednesday, 5 December 2012, from a recent low of Rs 28.15 on 23 November 2012.

IFCI's net profit fell 33.9% to Rs 131.01 crore on 9.4% decline in total income to Rs 709.74 crore in Q2 September 2012 over Q2 September 2011.

IFCI offers a wide range of products to the target customer segments to satisfy specific financial needs. The company also provides corporate advisory services. IFCI is also the nodal agency for monitoring of Sugar Development Fund (SDF) loans for projects related to modernization and expansion, co-generation of power and production of alcohol/ethanol in the private sector. As a nodal agency, IFCI undertakes loan documentation, creation of security, recommendations to Government of India (GoI) for disbursement of funds, monitoring the progress of projects during implementation and operations, recovery of SDF dues and furnishing clarifications to queries of SDF.

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