IFCI zooms 3.8%; to sell entire stake in ACRE to Axis Bank

India Infoline News Service | Mumbai | September 20, 201616:32 IST

The company will sell its entire stake in Assets Care and Reconstruction Enterprise Limited (ACRE) to Axis Bank for Rs 22.72 crore.

IFCI Ltd ended at Rs. 29.6, up by Rs. 1.1 or 3.86% from its previous closing of Rs. 28.5 on the BSE. The company will sell its entire stake in Assets Care and Reconstruction Enterprise Limited (ACRE) to Axis Bank for Rs 22.72 crore.

The scrip opened at Rs. 28.15 and touched a high and low of Rs. 30.35 and Rs. 28.15 respectively. A total of 41389638 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4736.81 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 30.45 on 26-Jul-2016 and a 52 week low of Rs. 19.5 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 28.85 and Rs. 27.6 respectively.

The promoters holding in the company stood at 55.53 % while Institutions and Non-Institutions held 22.63 % and 21.84 % respectively.

The stock traded above its 50 DMA.

***Note: This is a NSE Chart

 

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