Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
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'
IIFL group stocks such as 360 One WAM, IIFL Finance and IIFL Securities plunged up to 5 per cent in Monday's initial trade, but soon recouped losses. Here are the key levels to track.
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
IIFL Securities on Friday announced its net profit more than doubled to Rs 180.4 crore in three months ended March 2024 driven by strong growth in all the business segments. In comparison, the company had posted a net profit of Rs 86.4 crore in the year-ago period, IIFL Securities said in a statement. Total income surged 74 per cent year-on-year to Rs 704.4 crore for the quarter under review from Rs 405.2 crore in the January-March quarter of the FY 2022-23. "We witnessed strong growth in all our business segments. Our institutional broking and investment banking franchise has significantly improved their competitive position with stellar operating performance. Indian capital market businesses will continue to witness secular growth given multiple tailwinds over the next decade," "Venkataraman, Chairman, IIFL Securities, said. The company's board of directors in its meeting in March approved an interim dividend of Rs 3 per equity share of the face value of Rs 2 each for the financi
IIFL's gold loans under management stood at 24,692 crore rupees as of December 31
NBFC's stock falls another 20% after RBI bars it from disbursing gold loans
360 ONE WAM, formerly IIFL Wealth Management Ltd, on Thursday reported a 7.7 per cent year-on-year growth in profit after tax to Rs 194 crore in the December quarter. In comparison, the company had posted a profit after tax (PAT) of Rs 180 crore in the year-ago period, 360 ONE WAM said in a statement. The company's total revenue surged 14 per cent year-on-year to Rs 467 crore for three months ended December 2023 from Rs 410 crore in the same quarter preceding fiscal. The board has approved an interim dividend of Rs 4.5 per share. "Our commitment is steadfast in identifying optimal bottom-up opportunities within the broader context. We remain focused on domestic coverage in Tier 2 and 3 cities and expanding the client segments," Karan Bhagat, Founder, MD and CEO of 360 ONE, said.
360 ONE WAM Ltd on Friday reported a 7 per cent growth in profit after tax (PAT) to Rs 185 crore in the September quarter of the current financial year. In comparison, the company posted a PAT of Rs 173 crore in the year-ago period, 360 ONE WAM, formerly known as IIFL Wealth Management, said in a statement. The company's total revenues rose 9 per cent to Rs 441 crore in the quarter under review from Rs 405 crore in the July-September quarter of the preceding fiscal 2022-23. "Our market share estimation, which includes both the UHNI (Ultra High Net-worth Individual) and HNI (High Net-worth Individual) segments, stands at approximately 4-5 per cent. "With the introduction of new client segments to cater to the Rs 25 crore market, and an expanded geographical footprint in India and abroad, we see a huge opportunity to double our market share over the next 5 years. All our growth initiatives are designed to achieve this objective," Karan Bhagat, Managing Director and Chief Executive ..
Company will use funding for wealth management business, asset management franchise
The 360 ONE Global team, apart from Vikram Malhotra, will have Arunabh Banerjee and Pankaj Nagrath
Company developing technology infrastructure that enables safe space operations
IIFL had, reportedly, used credit-balance client accounts to settle proprietary-trade obligations between April 2011 and January 2017
The fund will lend to financially solvent companies and will now take exposure to distressed situations. It has a lifespan of three years
Stocks to Watch: Infosys and HCL Technologies to announce Q3 results; Sah Polymers to debut on Thursday.
10 models of British automaker's made-to-order India models sold in pre-launch phase
The company says it manages over Rs 3.3 trillion through its various mutual fund, PMS, AIF and other products
IIFL Wealth & Asset Management on Wednesday reported a 23 per cent growth in profit after tax (PAT) to Rs 173 crore for three months ended September 2022. The company had posted a PAT of Rs 140 crore in the same quarter of the last fiscal, IIFL Wealth & Asset Management said in a statement. The company's total revenue rose 12 per cent to Rs 405 crore in the second quarter of 2022-23, from Rs 362 crore in the same quarter of preceding fiscal. The company's board declared the third interim dividend of Rs 17 per share. "In the near term, we are cognizant of the global volatility which can provide both challenges as well as opportunities. We continue to look out for exciting new products and opportunity areas, while remaining relatively cautious in our approach," the company's MD and CEO Karan Bhagat said. He, further, said that people and technology remain the company's key investment themes. It would continue to add new talent and deep expertise to the organization.
More than 82% of the billionaires on the list are above the age of 50, and only 0.6 per cent of the rich in the list are below the age of 30, said the Hurun India study
Vohra stood at the 1,036th spot in the IIFL Wealth Hurun India Rich List 2022, with a net worth of Rs 1,000 crore