IFCI zooms 9.07% on strong Q4 show

DALAL STREET SPIKES

IFCI went up 9.07 per cent to settle at Rs 14.07. The counter witnessed heavy volumes of 1.72 crore shares compared with two-week average of 51.98 lakh shares.

The scrip is attracting buying interest on company's better fourth quarter results. Net sales in the quarter increased by a whopping 145.6 per cent to Rs 748.68 crore from Rs 277.69 crore in the previous quarter.

During the same period net loss has also reduced by a significant margin to Rs 1.11 crore from Rs 17.37 crore in the previous quarter. The scrip has been rising at a steady pace since late March on expectations of better fourth quarter results.