Company updateBusiness Today
IIFL Finance shares jump 3% on Blackstone stake buy
Positive+182 sources
GreyOak summary
IIFL Finance shares rose 3% after DAM Capital initiated a 'Buy' rating with a target of Rs 880. The move follows a Rs 6,414 crore capital infusion led by Blackstone, which acquired a 16% stake. This primary capital is expected to raise the company's capital adequacy ratio from 17% to 30%.
What it affects
- Dam Capital AdvisorsDAMCAPITALPositive +18
Initiated Buy rating with Rs 880 target.Rolling sentiment Neutral +13
- IIFL FinanceIIFLPositive +16
Shares jumped 3% on Blackstone stake buy.Rolling sentiment Positive +42
Source
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