Mumbai, September 2 (TNA) Shares of IFCI Ltd jumped nearly 10% in intraday trade on Wednesday, touching a fresh 52-week high amid strong buying interest in the state-owned financial institution.
The stock climbed to around ₹95.75–₹95.80 on the NSE, surpassing its earlier 52-week high of ₹95.80 recorded on June 17. IFCI’s shares opened at ₹87.50, against the previous close of about ₹87.26, and gained sharply through the morning session.
At around 10.08 am, IFCI was trading at ₹92.21, up 5.67% for the day, after moving between ₹87.01 and ₹92.49 in early trade. The stock later extended gains and approached the ₹96-mark, supported by heightened trading activity.
The rally came even as the broader market opened under pressure, with the Nifty and Sensex declining amid weak global cues and higher crude oil prices. IFCI emerged among the top gainers in the Nifty 500 index during early trade.
The company’s stock has shown sharp movement over the past year, rising from a 52-week low of ₹46.23 to its latest peak near ₹95.80. The latest level marks an increase of more than 107% from the stock’s 52-week low. Market participants will now watch whether IFCI can sustain gains above its earlier high amid overall market volatility.