IIFL Holdings gains on bargain hunting

IIFL Holdings rose 4.47% to Rs 173 at 11:48 IST on BSE on bargain hunting after the stock fell 8.25% in the preceding two trading sessions to Rs 165.60 on 7 January 2015 from a recent high of Rs 180.50 on 5 January 2015.

Meanwhile, the BSE Sensex was up 269.87 points, or 1%, to 27,178.69.

On BSE, so far 3,976 shares were traded in the counter, compared with an average volume of 13,409 shares in the past one quarter.

The stock hit a high of Rs 174.50 and a low of Rs 169.70 so far during the day. The stock hit a 52-week high of Rs 194.55 on 20 November 2014. The stock hit a 52-week low of Rs 59.90 on 27 January 2014.

The stock had underperformed the market over the past one month till 7 January 2015, falling 8.15% compared with 5.44% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.70% as against Sensex's 2.42% rise.

The mid-cap company has an equity capital of Rs 61.24 crore. Face value per share is Rs 2.

On a consolidated basis, net profit of IIFL Holdings rose 64.94% to Rs 109.49 crore on 31.08% rise in operating income to Rs 892.22 crore in Q2 September 2014 over Q2 September 2013.

IIFL Holdings (formerly known as India Infoline) is the apex holding company of the entire IIFL Group, which is a leading financial services company in India. It has a diversified business model that includes credit and finance, wealth management, financial product distribution, asset management, capital market advisory and investment banking.

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