IFCI edges lower after announcing Q2 results

IFCI declined 0.13% to Rs 38.90 at 14:55 IST on BSE after the company said its net profit rose 23.86% to Rs 173.79 crore on 15.5% rise in total income to Rs 874.33 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced during market hours today, 11 November 2014.

Meanwhile, the S&P BSE Sensex was up 12.65 points or 0.05% at 27,887.38.

On BSE, so far 17.82 lakh shares were traded in the counter as against average daily volume of 10.16 lakh shares in the past one quarter.

The stock hit a high of Rs 39.75 and a low of Rs 37.65 so far during the day. The stock had hit a 52-week high of Rs 44.90 on 10 June 2014. The stock had hit a 52-week low of Rs 21.80 on 4 February 2014.

The stock had outperformed the market over the past one month till 10 November 2014, rising 16.1% compared with the Sensex's 6% rise. The scrip had, however, underperformed the market in past one quarter, gaining 6.86% as against Sensex's 10.05% rise.

The mid-cap PSU firm has an equity capital of Rs 1662.04 crore. Face value per share is Rs 10.

The government established The Industrial Finance Corporation of India (IFCI) on 1 July 1948 as the first Development Financial Institution in the country to cater to the long-term finance needs of the industrial sector.

The government of India holds 55.53% stake in IFCI as at 30 September 2014.

Powered by Capital Market - Live News