IFCI jumped 10.35% to Rs 6.93 after the company said it sold its entire 2.44% stake in NSE.
IFCI in an exchange filing during market hours said that it has divested its entire stake in National Stock Exchange (NSE), comprising of 1.20 crore equity shares, or 2.44% equity.The company said it has realized approximately Rs 805.60 crore, representing about 82% of the total committed amount. Process for receipt of approval for remaining quantity is underway, it added.
IFCI reported a consolidated net profit of Rs 32.33 crore in Q2 September 2019 as compared to a net loss of Rs 5.53 crore in Q2 September 2018. Total income fell 23.9% to Rs 709.52 crore in Q2 September 2019 over Q2 September 2018.
IFCI is a non-banking financial company (NBFC) engaged in the business of financing companies. The company is also engaged in providing other credit granting services. Its products and services include financial products and corporate advisory services. Its financial products include debt segment and equity segment.
As of 30 September 2019, the Government of India held 56.43% stake in the company.
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