Shares of this stock involved in ‘Broking’ services are trading in the green post a Bulk Deal that took place pertaining to the company’s stock. In the last five trading sessions, the stock has gained around 10 percent from Rs 66.75 to the current price level.
With a market capitalization of Rs 2,200 crores, the stocks of IIFL Securities Limited started their trading session on Thursday at Rs 70.55 and currently trade at Rs 72.75.
The scrip witnessed an intra-day high of 73.70 indicating a gain of approximately 5.60 percent as compared to the previous close of Rs 69.80 apiece. The scrip is trading at its 52-week high price recorded at Rs 79.40.
Such positive sentiments were observed after a Bulk Deal took place pertaining to the company’s shares.
According to the NSE Bulk Deal data as on 16th August 2023, “Hamblin Watsa Investment Counsel Limited” offloaded 1.20 crore shares of the company at an average price of Rs 65.45 making it an aggregate deal amount of Rs 78.54 crores. The counterparty involves two parties, “Theleme India Master Fund” and “Zafar Ahmadullah” who bought 80 Lakh and 40 Lakh shares at the same price respectively.
On a consolidated basis, the company’s annual financials portray a dip in numbers due to increased cost pressures. Despite an increase in operating revenues from Rs 1,232 crores during FY21-22 to Rs 1,352 crores during FY22-23, the net profits declined from Rs 305 crores to Rs 249 crores during the same time period.
The company has a strong dividend-paying history with a total payout of Rs 3 during FY22-23, and, the same leads to a dividend yield of 4.12 percent.
Ace investor Mr. Sunil Singhania has invested in the company’s stock, and, as per the June 2023 holding data, he owns a 3.24 percent stake in the company equating to 99.10 Lakh equity shares. Currently, the holding value of his investment stands at Rs 72 crores.
According to the June 2023 data pertaining to the shareholding pattern, the company’s Promoters hold a 31.13 percent stake, and the Foreign Institutional Investors (FIIs) hold a considerable stake of 16.33 percent in the company.
Incorporated in 1996, IIFL Securities Limited is engaged in the business of providing capital market services in both, primary as well as secondary markets in India. The company conducts its business operations through various segments including Capital Market Activities, Insurance Broking, and other associated segments. It serves a wide range of customers including retail investors, institutional investors, etc.
Written by Amit Madnani
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