Stock Market Today: Global pioneer in small-cap funding, Smallcap World Fund Inc, booked profit in the financial stock IIFL Finance.
SMALLCAP World Fund Inc, as per its disclosure to the exchanges, indicated that it offloaded 5,488,172 equity shares of IIFL Finance, representing a 2.0542% stake.
SMALLCAP World Fund held 27,570,405 equity shares of IIFL Finance ahead of the stake sale. This translated into a 7.2564% stake.
SMALLCAP World Fund sold IIFL Securities shares on February 4 as per the intimation to the exchanges. The shares were sold by the fund in the open market.
SMALLCAP World Fund post offloading some shares, however, still holds 22,082,233 equity shares of IIFL Finance Ltd, representing a 5.2022% stake.
tIIFL Share Price Trend
IIFL Finance share had seen a sharp correction of more than 32% since September highs as the markets have seen a downturn.
IIFL Finance share price opened at ₹363 on the BSE on Thursday, February 6, slightly lower than the previous day’s closing price of ₹362. The stock traded on a volatile note today, with the stock surging to intraday highs of ₹365.50, and dipping to intraday lows of ₹358 thereafter.
IIFL Securities Q3 Results dates
Meanwhile, investors will be watchful for Q3 FY25 financial results to be declared by IIFL Finance soon.
A meeting of the Board of Directors of the company is scheduled to be held on Wednesday, February 12, 2025, inter alia, to consider and approve consolidated and standalone unaudited financial results for the quarter and nine months ended December 31, 2024.
For the preceding quarter, IIFL Finance had reported a consolidated net loss of ₹93.07 crore for Q2 FY25, following a 100% provision of ₹586.5 crore for security receipts (SRs) issued during the quarter. In comparison, the company posted a net profit of ₹525.52 crore in Q2 FY24. Income from operations remained flat at ₹2,318 crore, down slightly from ₹2,357 crore in the same period last year, as per the company’s BSE filing.
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