Page 3 - Ifci

IFCI surges 6% on receiving Rs 4.9 billion for Binani Cement resolution

On November 14, Aditya Birla Group firm UltraTech Cement won bid to acquire debt-ridden Binani Cement after the NCLAT approved its revised Rs 79.50 billion bid over an offer by rival Dalmia Bharat.

Need one-month extension for approval of second quarter results: IFCI

IFCI said the company is required to comply with the Indian Accounting Standards (Ind-AS) in preparation of the financial statements with effect from April 1, 2018

IFCI records Q1 loss at Rs 3.4 billion, expenses surge to Rs 11.91 billion

Total expenses of IFCI in the June quarter rose to Rs 11.91 billion

IFCI plans to offload 1.21 million shares in NSE, invites merchant bankers

The financer has been selling assets in order to improve its balance sheet

IFCI recovers Rs 2.8 bn from Bhushan Steel, allotted over 579,000 shares

Further, as part of the RP, IFCI said it has also been allotted 5,79,277 fully paid up equity shares of BSL having face value of Rs 2 per share

IFCI plans to dilute stake in NSE, CCIL to raise funds for its operations

IFCI plans to sell a part stake, depending on the price that investors offers

IFCI to expand loan book by Rs 60 billion next year with focus on financing

We are refinancing infrastructure projects that are up and running to minimise risks, said IFCI

IFCI Q3 net loss widens to Rs 1.77 billion on higher bad loan provisioning

Infrastructure lender IFCI Ltd's net loss ballooned to Rs 177 crore in the December quarter of the current fiscal as bad loans shot up, requiring higher provisioning. The company's net loss in the October-December period of last fiscal, 2016-17, was about a fourth at Rs 45.17 crore. As slippages increased, the provisioning against bad and doubtful assets as well as write offs nearly trebled to Rs 411.49 crore during the third quarter of 2017-18, up from Rs 139.87 crore a year ago. IFCI MD and CEO Emandi Sankara Rao said: "Efforts are being made for recovery from stressed assets and non- performing assets (NPAs). "Divestment from strategic and project investments is likely to yield results in the near future. The entire financial sector is under stress due to the burden of NPA, significantly in the infrastructure and iron & steel sectors." He told reporters that IFCI is no exception to this and large amount of slippage in standard assets to non-standard assets in ...

IFCI sells 24% stake in Tourism Finance Corporation of India for Rs 290 cr

The stock of IFCI closed 0.44 per cent up at Rs 23 on BSE

IFCI Q4 loss widens to Rs 318 cr

Company had posted a loss of Rs 101 crore in corresponding January-March period

ICRA downgrades ratings for IFCI's bonds on sharp dip in asset quality

State-owned lender may need additional capital infusion

IFCI plans to sell stakes in four associates firms

In absolute terms, there was addition Rs 2,970 crore to the gross NPA head during the quarter

IFCI posts Rs 45 cr net loss in December quarter

The company has registered a net profit of Rs 154.33 crore in Q3

IFCI to sell NPAs of Amtek Auto, Tilaknagar Industries

Thirteen bad loans with exposure of Rs 875 crore to be sold

IFCI cuts benchmark lending rate by 75 basis points

The new rate would be effective from January 15

IFCI surges over 10% as NSE files IPO papers with Sebi

The stock surged nearly 12% to Rs 27.50 on the NSE in early morning trade on back of heavy volumes

IFCI turns headless as MD, DMD finish stints

The company is reeling under a huge pool of non-performing assets, which constitute 22% of all loans

IFCI surges over 15% on heavy volumes

The stock up 17% to Rs 27.45 on the National Stock Exchange in intra-day trade

Once again, IFCI is in the eye of a storm

Financial investments made by the company will be investigated a second time in three years

SC asks Centre to ensure scrutiny of allegations against IFCI

The apex court passed the judgement on a PIL filed by NGO Centre for seeking an independent probe