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Last Updated : Nov 17, 2020 02:35 PM IST | Source: Moneycontrol.com

IIFL Finance stock hits 20% upper circuit on Rs 100 crore fundraising; volume surges

The stock witnessed spurt in volume by more than 4.79 times and was trading with volumes of 352,381 shares, compared to its five day average of 90,796 shares, an increase of 288.10 percent.

 
 
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IIFL Finance share price hit 20 percent upper circuit on BSE on November 17 after the company raised Rs 100 crore.

IIFL Finance said it has raised Rs 100 crore through issuance of non-convertible debentures on a private placement basis. It said the debentures will be listed on the Wholesale Debt Market segment of NSE.

"Finance committee of the board of directors of the company.... approved allotment of 1,000 non convertible debentures.....of face value of Rs 10 lakh each, for cash at par, aggregating to Rs 100 crore, on private placement basis," IIFL Finance said in a regulatory filing.

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The stock was trading at Rs 112.50, up Rs 18.75, or 20 percent at 14:08 hours. It has touched an intraday high of Rs 112.50 and an intraday low of Rs 94.80. There were pending buy orders of 76,397 shares, with no sellers available.

The scrip also witnessed spurt in volume by more than 4.79 times and was trading with volumes of 352,381 shares, compared to its five day average of 90,796 shares, an increase of 288.10 percent.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long-term moving averages.

Moneycontrol technical rating is bullish with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​​
First Published on Nov 17, 2020 02:35 pm
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