IL&FS Investment Managers jumped 4.49% to Rs 18.62 at 15:15 IST on BSE after the company said its board will meet on 1 November 2013 to consider a proposal to issue bonus shares to shareholders.
The company disclosed its plan to issue bonus shares after announcing Q2 September 2013 results during trading hours today, 25 October 2013.
Meanwhile, the BSE Sensex was down 32.40 points, or 0.16%, to 20,693.03.
On BSE, 2.99 lakh shares were traded in the counter compared with average volume of 52,077 shares in the past one quarter.
The stock hit a high of Rs 18.99 and a low of Rs 17.10 so far during the day. The stock hit a 52-week high of Rs 26.50 on 30 October 2012. The stock hit a 52-week low of Rs 14.05 on 6 September 2013.
The stock had outperformed the market over the past one month till 24 October 2013, rising 18.56% compared with the Sensex's 4.04% rise. The scrip had, however, underperformed the market in past one quarter, falling 1% as against Sensex's 3.16% rise.
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The small-cap company has an equity capital of Rs 41.78 crore. Face value per share is Rs 2.
On a consolidated basis, IL&FS Investment Managers' net profit rose 12.06% to Rs 19.42 crore on 4.61% decline in total income from operations (net) to Rs 53.82 crore in Q2 September 2013 over Q2 September 2012. The company announced the result during trading hours today, 25 October 2013.
Dr Archana Hingorani, Chief Executive Officer, IL&FS Investment Managers, said, "The challenges in the operating environment and fund raising in global markets continue unabated. Despite this, the company's performance remain steady. While the world at large watches hawkishly, the economic performance and the expected outcome of impending elections, some positive changes in the business environment are visible. This is helping create exit alternatives for underlying investee companies, which should lead to greater ability to tap new funds."
During the quarter, IL&FS Investment Managers recorded exits of Rs 150 crore in all the three verticals of growth private equity, infrastructure and real estate. The exits were effected in spite of a difficult operating environment and inspite of the tough liquidity conditions reflecting the company's capability operate in challenging environment
IL&FS Investment Managers is India's first and only listed private equity firm. The company has been a pioneer in managing and advising private equity investments, ranging from real estate, infrastructure to sector agnostic private equity funds. The company has, to date, invested in over 160 investments and managed over 78 exits/liquidity events. The firm manages assets of around $3.2 billion across sectors and has delivered a gross internal rate of retum of over 24% (in US$ terms).
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