IFCI rallies 9%, nears 52-week high; stock has surged 39% in one week

IFCI's ratings outlook will change to stable if the company's strategic importance to the GoI increases significantly along with the infusion of sizeable capital, ICRA said in its report

Shares of IFCI continued their northward movement for the second straight day on back of heavy volumes. The stock has  rallied 9 per cent to Rs 16.29 on the BSE in Tuesday’s intra-day trade, and was trading closer to its 52-week high of Rs 16.40 touched on June 24, 2021.

In the past one week, the stock has zoomed 39 per cent, after the rating agency said that the rating outlook will be changed to 'Stable' if IFCI’s strategic importance to the government of India (GoI) increases significantly along with the infusion of sizeable capital. In comparison, the S&P