IFCI climbs after govt hikes stake to 51%
Source: IRIS | 08 Apr, 2015, 11.18AM
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![]() IFCI witnessed a rise in share price on Wednesday after it announced that the government of India has acquired 60 million preference shares of Rs 10 each of the company from certain scheduled commercial banks.
Consequently, the government's shareholding increased from present 47.93% to 51.04% of the paid-up share capital of the company. ![]() Shares of the company are trading at Rs 35.05, up Rs 1.2, or 3.55% at the Bombay Stock Exchange (BSE) on Wednesday at 11:14 a.m.
The scrip has touched an intra-day high of Rs 35.05 and low of Rs 33.90. The total volume of shares traded at the BSE is 400,380.
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