Here's why this PSU stock, heavily owned by retail investors, surged 8% on Monday
Published on 14/07/2025 01:58 PM
Here's why this PSU stock, heavily owned by retail investors, surged 8% on MondayAdditionally, the board has recommended divesting IFCI’s stake in MPCON Ltd. to the government.By CNBCTV18.com July 14, 2025, 1:58:35 PM IST (Published)1 Min ReadShares of IFCI Ltd. surged as much as 8% on Monday, July 14, after the company’s board approved a broad consolidation plan at the group level, including the merger of its key subsidiaries.
As part of the restructuring, IFCI plans to merge StockHolding Corporation of India, IFCI Factors Ltd., IFCI Infrastructure Development Ltd., and IIDL Realtors into the parent company.
The board has also proposed the consolidation of broking-related entities, including StockHolding Services, IFCI Financial Services, IFIN Entities, IFIN Credit, and IFIN Securities, into a single platform.
Post-merger, IFCI will continue operating as a non-banking financial company (NBFC), while pursuing opportunities in custodial services, e-Stamping, and advisory segments.
Additionally, the board has recommended divesting IFCI’s stake in MPCON Ltd. to the government.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsIFCI