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
Outlook for equities remains positive over the medium to long term considering the structurally robust domestic growth outlook, healthy corporate profitability and supportive government policies.
Angel One reported a healthy 44 per cent year-on-year jump in its consolidated profit after tax at Rs 423.4 crore, in the September 2024 quarter.
PC Jeweller, MTNL, Kitex Garments, 63 Moons Tech, Genus Power, Refex Industries, Solara Active Pharma, and Suraj Estates Developers were locked in 5 per cent lower circuit on the BSE.
Among individual stocks, 5Paisa declined 7.65 per cent, followed by IIFL Securities (down 4.76 per cent), Geojit Financial Services (down 3.32 per cent) and MOFSL (down 3.15 per cent).
IIFL Securities' stock hit a new high of Rs 372, after having skyrocketed 203 per cent so far in financial year 2024-25.
The outlook for Indian capital market related businesses continues to remain positive over the medium to long term.
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.