SSPL WEALTH PVT LTD

Monday 25 Nov, 2024 05:55 PM

Afcons Infra jumps after Q2 PAT climbs 30% YoY to Rs 135 cr IFCI surges on receiving approval for merger of group companies Markolines Pavement Tech spurts on bagging order worth Rs 72.78-cr Chennai Petro gets show cause notice from TNPCB Vijaya Diagnostic Centre Ltd leads losers in 'A' group Orient Technologies Ltd leads losers in 'B' group Volumes spurt at Capri Global Capital Ltd counter Dev Info Tech hits life high after board OKs stock split proposal Sarda Energy spurts on emerging as preferred bidder by Chhattisgarh Govt RBL Bank Ltd gains for third consecutive session Indian Bank spurts 6.58%, up for third straight session J B Chemicals & Pharmaceuticals Ltd up for third consecutive session Torrent Pharmaceuticals Ltd spurts 1.59%, rises for third straight session Hindalco Industries Ltd up for third consecutive session Tata Steel Ltd gains for third straight session

Saravan Stocks

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IFCI surges on receiving approval for merger of group companies

25-Nov-24 15:28 Hrs IST

The Department of Financial Services (DFS), Ministry of Finance, has accorded in-principle approval to consider 'consolidation of IFCI group' which entails merger/amalgamation of IFCI and StockHolding Corporation of India, IFCI Factors, VFCI Infrastructure Development, and IIDL Realtors with IFC.

IFCI is engaged to provide financial support for the diversified growth of Industries across the spectrum. The financing activities cover various kinds of projects such as airports, roads, telecom, power, real estate, manufacturing, services sector and such other allied industries.

The company's consolidated net profit declined 14.1% to Rs 82.62 crore in Q2 FY25 over Q2 FY24. Total income rose 28.4% YoY to Rs 785.80 crore during the period under review.

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