IFCI hits 52-week high on heavy volumes; stock rallies 73% in six days

The company expects improvement in the asset portfolio quality as well as cash flow of the company, due to various strategic initiatives including measures for recovery were initiated during FY20

Shares of IFCI hit a 52-week high at Rs 10.75 on Thursday after rising 15 per cent on the BSE on the back of heavy volumes. The trading volumes on the counter more-than-doubled with a combined around 40 million equity shares changing hands on the NSE and BSE, till 03:16 pm.

Since November 25, in the past 10 trading days, the state-owned financial institutions' stock price has rallied 73 per cent after the company said it expects improvement in the asset portfolio quality and cash flow.

“Various strategic initiatives including measures for recovery were initiated during the year