Govt of India increases stake in IFCI Ltd; share jumps 13%

Industrial Finance Corporation of India Ltd (IFCI Ltd) a small-cap government company that is engaged in the business of providing financial services saw its share price surge 13% to ₹79 per share after the government increased its stake from 1.75 Cr shares (70.32%) in March 2024 to 1.87 Cr shares (71.72%) in April 2024.