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IFCI slips on weak Q3 results

Capital Market/ 10:20 , Jan 20, 2012

IFCI fell 3.69% at Rs 24.80 at 10:18 IST on BSE after net profit declined 25.42% to Rs 114.05 crore on 3.6% rise in operating income to Rs 680.44 crore in Q3 December 2011 over Q3 December 2010.

The result was announced after market hours on Thursday, 19 January 2012.

Meanwhile, the BSE Sensex was up 72.80 points, or 0.44%, to 16,716.54.

On BSE, 13.92 lakh shares were traded in the counter as against an average daily volume of 33.84 lakh shares in the past one quarter.

The stock hit a high of Rs 25.90 and a low of Rs 24.50 so far during the day. The stock had hit a 52-week low of Rs 19.65 on 20 December 2011. The stock had hit a 52-week high of Rs 59.75 on 21 January 2011.

The stock had outperformed the market over the past one month until 19 January 2012, gaining 26.54% compared with the Sensex's 8.22% rise. The scrip had, however, underperformed the market in past one quarter, sliding 18.25% as against 2.58% fall in the Sensex.

The mid-cap company has an equity capital of Rs 737.84 crore. Face value per share is Rs 10.

IFCI caters to the long-term finance needs of the industrial sector by providing loans and advances to corporate borrowers at concessional rates.

 



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