The crucial support for Nifty is placed at 11,100 while on the upside, the index is likely to find tough resistance around 11300
Net profit during 2018-19 was higher 23 per cent year-on-year at Rs 1,253 crore. Income was up 16 per cent at Rs 4,305 crore from the previous fiscal.
SEBI asked clients of the commodity broking firms to withdraw or transfer their securities held with the brokers within 45 days without any additional cost.
IIFL's consolidated total income also declined to Rs 990 crore in the third quarter of the current fiscal, from Rs 1,014 crore in the corresponding period of the previous financial year.
The demerger will result in an equity shareholding mix in which the owner of seven IIFL Holdings shares will get seven shares of IIFL Finance, seven shares of IIFL Securities and one share of IIFL Wealth
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Its net profit in the corresponding quarter of last year was at Rs 234.15 crore.
IIFL Home Finance has raised another $50 million from State Bank of India through External Commercial Borrowing (ECB) route.
While the company, with diversified business segments, has many growth drivers, we are most excited about its wealth management business
IIFL Holdings has reported a consolidated total income from operations of Rs 1,767.98 crore and a net profit of Rs 266.28 crore for the quarter ended Jun-2018
Outlook for the wealth management industry is promising as the market is under penetrated, likely to grow in sync with India’s economic growth and rising income levels in the economy
The board today resolved to issue up to 15 crore equity shares or any other securities convertible into equities shares through one or more modes including qualified institutions placement, ADRs, GDRs or foreign currency convertible bonds (FCCBs), the private lender said in a regulatory filing.
India Infoline has an asset under management of over Rs 31,000 crore at the end of March 2018.
The Nifty PSU banking index jumped 3.66 percent led by Bank of India which zoomed over 9 percent intraday on the back of recovery of Rs 7,000 crore from other banks. Punjab National Bank was up 4.3 percent while Andhra Bank zoomed over 5 percent.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell Reliance Infrastructure and UPL and can buy Godrej Consumer Products.
Morgan Stanley has upgraded Ashok Leyland to Overweight from equal-weight and raised target price to Rs 151 from Rs 101.30 per share.
Its net profit in the corresponding October-December quarter of 2016-17 was at Rs 179.07 crore.
The market breadth was in favour of the declines on Wednesday morning with 384 stocks advancing as against 1220 declines while 405 remained unchanged. On the other hand, 673 stocks advanced and 1463 stocks declined while 87 remained unchanged on the BSE.
Credit Suisse has maintained its outperform rating on the stock, with increased target price at Rs 740 from Rs 690 per share earlier, citing strong growth across lending & fee-based businesses in Q2.
"The board at its meeting... decided to infuse Rs 150 crore by way of additional equity capital into India Infoline Ltd, the broking subsidiary of the company, to meet its business requirements," IIFL Holdings said in a BSE filing.