IIFL

Affirms IIFL Finance's long-term rating; removes from rating watch negative

In its Q2 results, IIFL Finance reported a consolidated net loss of Rs 93.07 crore in the second quarter as compared to a net profit of Rs 525.52 crore in the July-September 2023 quarter (Q2FY24)

IIFL Finance reported a consolidated net loss of Rs 93.07 crore in the second quarter as compared to a net profit of Rs 525.52 crore a year ago

IIFL Securities shares jumped 8.33 per cent at Rs 404.90 a piece on the BSE in Wednesday intraday trade

Stocks like IIFL Securities, IFB Industries and Dhani Services soared over 25% so far this month; Experts attribute the outperformance to stock specific news, rather terming it as broader market trend

The rating agency, in a statement placed on its website, said the assets under management (AUM) of IFL's gold business shrunk to Rs 14,727 crore as of June 30, 2024

Kotak Mahindra Bank, ICICI Bank, and Tata Technologies saw changes in their weightage in the FTSE All-World Index, which rose 1.8, 3.8, and 5.1 per cent, respectively

The uptick in IIFL Finance share price came after the Reserve Bank of India (RBI) lifted ban on the company's gold finance business.

On March 4, 2024, the RBI imposed restrictions on IIFL Finance after observing deviations in assaying and certifying purity and net weight of gold at time of sanctioning loans and at time of auction

IIFL fell under regulatory scrutiny in March amid a crackdown on financial firms, when it was asked by RBI to stop disbursing new gold-backed lending following 'material supervisory concerns'

IIFL fell under regulatory scrutiny in March amid a crackdown on financial firms, when it was asked by RBI to stop disbursing new gold-backed lending following 'material supervisory concerns'

The proposed changes include limiting weekly options contracts to one index per exchange, higher margin requirements near expiry, and a higher entry point by increasing the contract size

Focused on small and medium enterprises, Aye Finance has roped in four arrangers for its upcoming IPO

The outlook for Indian capital market related businesses continues to remain positive over the medium to long term.

No plans to become BC for gold loan business

All you need to know before market opens on Monday: GIFT Nifty hints at a marginal dip in the aftermath of Hindenburg attack; FIIs remain net long in index futures; 15 stocks in F&O ban period today.

Says fund in which the Buchs invested focused on debt, maintains no investor had any role in its ops

Analysts believe that these statements are mere allegations, which, at best, can trigger a knee-jerk reaction in the markets when they open for trade on Monday

RBI's curbs on fresh gold loan biz hits performance

IIFL Finance on Tuesday posted 28 per cent decline in consolidated profit at Rs 338 crore for June quarter FY25 as RBI imposed ban on its gold loan business. The NBFC had earned a profit of Rs 473 crore in the same quarter a year ago. The Reserve Bank of India (RBI) on March 4 barred IIFL Finance from disbursing gold loans with immediate effect following multiple supervisory concerns, including serious deviations in assaying and certifying the purity of the yellow metal. Total income increased to Rs 2,625 crore during the quarter under review from Rs 2,370 crore in the same period last year, IIFL Finance said in a regulatory filing. Interest income of the bank rose to Rs 2,472 crore from Rs 2,198 crore in the first quarter of previous year. Expenses also increased to Rs 1,034 crore from Rs 888 crore. The asset quality deteriorated with gross non-performing assets (NPAs) rising to 2.25 per cent from 1.8 per cent at the end of June 2023. Net NPAs remained flat at 1.1 per cent of ..