IFCI hits 52-week low after declaring weak Q1 results

IFCI fell 3.21% to Rs 21.10 at 11:22 IST on BSE after net profit fell 41.1% to Rs 55.11 crore on 15.8% decline in total income to Rs 561.53 crore in Q1 June 2013 over Q1 June 2012.

The result was announced after market hours on Tuesday, 30 July 2013.

Meanwhile, the S&P BSE Sensex was down 104.31 points, or 0.54%, to 19,244.03.

On BSE, 11.76 lakh shares were traded in the counter as against an average daily volume of 20.37 lakh shares in the past one quarter.

The stock hit a 52-week low of Rs 20.20 in intraday trade today, 31 July 2013. The stock hit a high of Rs 21.45 so far during the day. The stock had hit a 52-week high of Rs 40.20 on 7 January 2013.

The stock had underperformed the market over the past one month till 30 July 2013, falling 16.63% compared with the Sensex's 0.24% fall. The scrip had also underperformed the market in past one quarter, sliding 26.97% as against Sensex's 0.80% fall.

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

IFCI's activities include project financing, infrastructure development, debt and equity underwriting & syndication, venture capital, stock broking & merchant banking, factoring, asset reconstruction, tourism finance, corporate and infrastructure advisory, technical consultancy and management education.

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