IFCI dropped over 2 percent to Rs 27.40 on BSE on profit booking after a strong rally in the previous trading session.
Meanwhile, the BSE Sensex was up 200.79 points, or 0.76 percent, to 26,566.94.
On the BSE, so far 12.07 lakh shares were traded in the counter, compared with average daily volumes of 11.75 lakh shares in the past one quarter.
The stock had hit a high of Rs 28.45 and a low of Rs 27 so far during the day.
The stock hit a 52-week high of Rs 30.85 on 23 September 2016. The stock hit a 52-week low of Rs 19.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 29 December 2016, rising 20.17 percent compared with the 1.08 percent fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 6.26 percent as against Sensex's 5.38 percent decline.
The mid-cap company has equity capital of Rs 1662.04 crore. Face value per share is Rs 10.
Shares of IFCI surged 13.36 percent to settle at Rs 28 after media reported that the National Stock Exchange of India (NSE) filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with the market regulator on Thursday, 29 December 2016.
As on 24 November 2016, IFCI held 3.05 percent stake in NSE. IFCI announced after market hours yesterday, 29 December 2016, that it has offered to offload 25 percent of its 3.05 percent stake (3.43 lakh equity shares) (pre-split) through IPO of NSE.
This disclosure is being given on filing of the DRHP by NSE with Securities and Exchange Board of India (Sebi), IFCI said in a statement.
IFCI's net profit dropped 91.9 percent to Rs 14.86 crore on 28.2 percent fall in operating income to Rs 800.61 crore in Q2 September 2016 over Q2 September 2015.
IFCI is a financial institution catering to the long-term finance needs of the industrial sector.
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