Hopes of early recast drive up IFCI

DALAL STREET SPIKES

Talks of restructuring pushed up the IFCI scrip on the BSE on Tuesday. The stock hit a high of Rs 18.90 before closing at Rs 17.70, up by 5.35 per cent. More than 141.19 lakh shares were traded on the BSE.

The counter attracted huge buying interest on the back of anticipation that the company's restructuring package will be declared soon, marketmen said.

The counter closed firmly in the positive territory despite the overall market closing in the negative, registering huge volumes.

Analysts add that IFCI's huge exposure to the steel and textiles industries has prompted growth in fortunes.