IIFL.NSE IIFL Finance Ltd.
177
392.00
4.10
(1.06%)
| Watchers | 177 |
| 52-Wk Low | 304.28 |
| 52-Wk High | 683.26 |
| Market Cap | 161.52B |
| Volume | 7.83M |
| 52-Wk High | 683.26 |
| 52-Wk Low | 304.28 |
Special audit begins at IIFL Finance after RBI restricted gold loan sanctionMoneycontrol • 14 days ago
The measure is part of RBI’s supervisory action over concerns around certain loan disbursement practices. IIFL Finance said it is extending full cooperation to the special audit team.
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Rights entitlement ratio has been fixed at one rights equity share for every nine fully paid-up equity shares of the company held by the eligible shareholders
JM Financial extended its decline, trading in the red in 11 out of the last 16 sessions, while IIFL Finance lost in 12 sessions. Since early March, IIFL Finance shed over 45 percent, while JM Financial fell nearly 25 percent
On March 4, RBI stopped IIFL Finance from sanctioning and disbursing fresh gold loans over material supervisory concerns.
Motilal Oswal is bullish on IIFL Finance recommended buy rating on the stock with a target price of Rs 560 in its research report dated March 06, 2024.
RBI on Monday barred IIFL Finance from disbursing gold loans, with immediate effect following multiple supervisory concerns
Analysts believe that the RBI's order can dent IIFL Finance's earnings due to rapid unwinding of profitable gold loan book
Additionally, experts said that IIFL Finance’s co-lending deal with banks will be something to watch out for.
An inspection of the company revealed serious deviations in assaying and certifying purity and net weight of the gold at the time of sanction of loans and at the time of auction upon default, breaches in Loan-to-Value ratio (LTV) etc, the RBI said.
Motilal Oswal is bullish on IIFL Finance recommended buy rating on the stock with a target price of Rs 800 in its research report dated January 05, 2024.