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New Delhi: Amidst the boom in the stock market, the shares of finance company IIFL Finance have also seen a great rise today. The company's shares are trading more than 9 percent higher since early morning trading today.
At the time of writing the news, IIFL Finance shares were trading at Rs 543.30 per share, up 9.55 per cent or Rs 47.35.
Why did the stock rise
On Thursday, the Reserve Bank of India (RBI) issued a circular. According to this circular, the central bank has decided to lift the ban imposed on IIFL Finance. Let us tell you that 6 months ago, RBI had imposed a ban on the company's gold loan business. Now after the ban is lifted, IIFL Finance can again distribute and sell gold loans. RBI said that the ban has come into effect with immediate effect.
IIFL Finance Share Performance
After the RBI imposed the ban, the company's stock witnessed a huge decline. RBI imposed the ban on March 4, 2024. On this day, the company's stock fell from Rs 604 to Rs 580 per share. After this, the company's stock witnessed fluctuations since March.
Talking about the performance of IIFL Finance shares, the company's shares have given positive returns in the last 6 months. From March 20, 2024 till date, the company's shares have given a return of 65 percent. However, in the last one year, the company has given a negative return of 5 percent. According to the website of Bombay Stock Exchange (BSE), the M-Cap of IIFL Finance is Rs 22,987.56 crore.
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