IFCI board approves selling remaining NSE stake of 2.44%; stock surges 4%

The board, at its meeting held on June 24, 2019, has approved the sale of IFCI's remaining stake of 1,20,66,871 equity shares comprising of 2.44% of the total equity shares of NSE, the company said in the filing.

Jun 25, 2019 05:06 IST India Infoline News Service

IFCI
Shares of IFCI surged 4% in the morning trade on the BSE after the board has approved the sale of IFCI's remaining stake of 1,20,66,871 equity shares comprising of 2.44% of the total equity shares of NSE.

The board, at its meeting held on June 24, 2019, has approved the sale of IFCI's remaining stake of 1,20,66,871 equity shares comprising of 2.44% of the total equity shares of NSE, the company said in the filing.

IFCI Ltd is currently trading at Rs8.30 up by Rs0.33 or 4.14% from its previous closing of Rs7.97 on the BSE.

The scrip opened at Rs8.25 and has touched a high and low of Rs8.36 and Rs8.05 respectively. So far 27,71,079 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,351.71cr.

The BSE group 'A' stock of face value Rs10 has touched a 52 week high of Rs18.20 on 31-Jul-2018 and a 52 week low of Rs7.08 on 20-Jun-2019. Last one week high and low of the scrip stood at Rs8.69 and Rs7.08 respectively.

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