IFCI shares rise 7 percent

Bangalore: The IFCI stock was among the top gainers of the day, after its price went up by nearly seven percent from its previous close. Having started the day at 53.35, the stock went up to touch an intraday high of 57.40, before closing the day at 56.96, 6.95 percent above its previous close at 53.25. Through the day, 19,831,226 IFCI shares were traded in the market with the current P/E ratio of the stock at 7.80. The 52 week stock price chart is on the left.

IFCI is an India-based company engaged in providing project financing, financial services and investments. The company's subsidiaries include IFCI Infrastructure Development (IIDL), IFCI Venture Capital Funds (IVCF) and IFCI Financial Services (IFIN). IIDL owns plots of land in different parts of India. Its projects include housing projects at Ghaziabad, Uttar Pradesh, development of office complexes for IFCI at Ahmedabad and Bangalore.

IVCF takes up investment in start-up companies mainly involved in technology-oriented and projects. IVCF has financed over 400 projects and supported commercialization of more than 50 new technologies. IFIN provides a range of financial products and services to investors, institutional and retail. It is primarily involved in stock broking, investment banking, mutual fund distribution and advisory services, depository participant services and insurance products distribution. Kotak Equity Arbitrage Fund holds the highest number of IFCI shares with 3,396,280 shares in its portfolio.