IFCI Ltd News

Nifty SmallCap index can break 22-month up trend; MidCap index may tank 12%

The Nifty SmallCap and MidCap indices have plunged up to 7% thus far in 2025 as against a near 2% fall in the Nifty 50 index. Chart shows broader indices on course to test multi-month support levels.

Govt to infuse Rs 500 cr capital in IFCI to improve financial health

The government has decided to infuse Rs 500 crore capital in state-owned IFCI to improve its financial health ahead of the company's proposed restructuring and consolidation into a group. With the infusion, the government of India's holding in the company is expected to further increase from existing 71.72 per cent as on September 2024. The capital infusion plan for IFCI was approved through the passage of the first Supplementary Demand for Grants for 2024-25 in Lok Sabha last week. The Supplementary Demand for Grants for 2024-25 made an allocation for an additional amount of Rs 499.99 crore for 'Subscription to the Share Capital of Industrial Finance Corporation of India (IFCI). "Taking into account savings of Rs 50.07 crore available in the same section of the grant, the remaining amount of Rs 449.92 crore will be met from surrender of savings available in the capital section of Demand No.30-DEA and it will not entail any additional cash outgo," the Supplementary Demand for Grant

IFCI soars 15% as board approves merger of IFCI group of companies

The move came after the company received of a communication from the Department of Financial Services (DFS), Ministry of Finance to consider 'consolidation of IFCI Group'

FSIB recommends IFCI's current deputy MD Rahul Bhave for MD, CEO post

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Monday recommended Rahul Bhave for the position of Managing Director (MD) and CEO of IFCI Ltd. Bhave is currently the Deputy Managing Director of IFCI. The Financial Services Institutions Bureau (FSIB) interviewed four candidates for the position of MD & CEO of IFCI, FSIB said in a statement. "Keeping in view their performance in the interface, overall experience and the extant parameters, the Bureau recommends Rahul Bhave for the position of MD and CEO in IFCI Ltd," it said. Besides, FSIB has recommended Palash Srivastava for the position of Deputy Managing Director in IIFCL. Srivastava is currently the Chief Executive Officer of IIFCL Projects Limited, a subsidiary of IIFCL. The final decision on both FSIB's recommendations would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. FSIB is headed by former secretary, Department of Personnel and Traini

Capital gains tax, valuation woes: No stopping the mid, smallcap bulls

From the July 23 Budget 2024-day low, the midcap and the smallcap indices on the BSE have seen a surge of over 6 per cent and 7 per cent respectively

IFCI, MMTC, STC, Suzlon, Raymond among 354 stocks locked in upper circuit

IFCI (Rs 84), MMTC (Rs 102.60) and STC India (Rs 203.40) were frozen at the 20 per cent upper limit on the BSE.