{"id":133985,"date":"2024-09-20T12:24:05","date_gmt":"2024-09-20T06:54:05","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=133985"},"modified":"2024-09-20T16:07:38","modified_gmt":"2024-09-20T10:37:38","slug":"nbfc-stock-jumps-13-after-rbi-lifts-restrictions-on-its-gold-loan-business","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/nbfc-stock-jumps-13-after-rbi-lifts-restrictions-on-its-gold-loan-business\/","title":{"rendered":"NBFC stock jumps 13% after RBI lifts restrictions on its gold loan business"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3973764726\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The stock of this leading financial service provider in India rose to 13% after the Reserve Bank of India lifted the restrictions imposed on its gold loan business.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1671917690\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Stock Price Variations:&nbsp;<\/strong><\/h2><p>With a market capitalization of Rs. 20, 970.00 Crores, the shares of <strong>IIFL Finance <\/strong>started the session with a gap up opening of Rs.549.00 per share above 10.69% from the previous day close of Rs. 495.95 per share and made an intraday high of Rs. 560.60<strong>. <\/strong>At 11:03 am the stock was trading at Rs 541.00 per share, 9.08% above the previous day close<strong>.\u00a0<\/strong><\/p><p>The stock made a recovery from yesterday&#8217;s fall of 7% after the company was at risk of a credit rating downgrade from AA to AA- because of the ban on its gold loan business.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Reason for Rise:&nbsp;<\/strong><\/h2><p>As per the exchange filings The Reserve Bank of India(RBI) has lifted the restrictions imposed on the gold loan business of IIFL Finance Limited. The restriction was earlier imposed on March 04, 2024, by the RBI after noticing discrepancies in the assaying and certification of gold purity and net weight during loan approvals and auctions. As an impact the gold loan AUM decreased from Rs. 26,081 Crores on March 4 2024 to Rs. 12,162 Crores on August 5, 2024.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1910348969\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Financials Performance:&nbsp;<\/strong><\/h2><p>For Q1 FY25 the company reported a net profit decrease of 28.48% to Rs. 338.16 crores compared to Rs. 472.86 crores in Q1 FY24 while revenue from operations marked an increase by 13.63 to Rs. 2,613.4 crores from Rs. 2,299.78 crores in comparison to the same period.&nbsp;<\/p><p>As per Q1FY25 company has a total AUM of Rs. 69,610.00 Crores and home loans and gold loans contributing most of it about 40% and 21% respectively.&nbsp;<\/p><h2 class=\"wp-block-heading\"><strong>About the company:&nbsp;<\/strong><\/h2><p>IIFL Finance Limited is one of the leading players in the financial services space in India. Together with its subsidiaries \u2013 IIFL Home Finance Limited, IIFL Samasta Finance Limited and IIFL Open Fintech Private Limited, it provides a diverse range of loans and mortgages.&nbsp;<\/p><p>The business segment of IIFL Finance includes Home loans, Gold Loans, Micro Finance, Loan against property, Digital loan and Construction and real estate and the company has a nationwide presence with a thriving network of 2600+ branches across 500+ cities.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By: Joseph Pv<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading has-medium-font-size\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on <a href=\"http:\/\/tradebrains.in\/\">tradebrains.in<\/a> are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing<\/strong>.<\/p><div class=\"trade-after-content\" id=\"trade-1141167264\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The stock of this leading financial service provider in India rose to 13% after the Reserve Bank of India lifted the restrictions imposed on its gold loan business.&nbsp; Stock Price Variations:&nbsp; With a market capitalization of Rs. 20, 970.00 Crores, the shares of IIFL Finance started the session with a gap up opening of Rs.549.00 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":19232,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31,13525],"tags":[],"class_list":["post-133985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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