IIFL Securities hits record high; spurts about 27% in five days

IIFL Securities hit an upper circuit limit of 5% at Rs 49.50, extending gains for the fifth straight session.

The scrip was currently locked at its record high level. It has risen 26.59% in five sessions from a recent closing low of Rs 39.10 on 30 December 2019.

Rakesh Jhunjhunwala's Rare Enterprises bought 27.85 lakh shares, or 0.87% equity, of IIFL Securities through a bulk deal on BSE on Thursday, 2 January 2020, at an average price of Rs 42.83.

Separately, Satpal Khattar sold 30 lakh shares, 0.94% equity, of IIFL Securities at Rs 42.74 each on BSE on Thursday. Satpal Khattar owned 62.16 lakh shares of IIFL Securities, or 1.95% stake, at the end of the September quarter.

IIFL Securities debuted on exchanges on 20 September 2019 post demerger. Last year, financial services firm IIFL Holdings announced demerger of its finance, wealth and capital business into three separate entities and listed them on bourses.

IIFL Securities is a leading broking house offering equity, commodities, currency broking in retail and institutional segment.

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