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The Latest Breaking News from IIFL Finance

IIFL Finance dismisses reports on Fairfax planning company exit to fund IDBI Bank deal

IIFL Finance denied reports of Fairfax exiting the company. These reports suggested a stake sale to fund an IDBI Bank acquisition. Blackstone is reportedly in talks with Fairfax for this stake. This potential deal comes as India's financial sector attracts acquisitions. Blackstone previously invested in Federal Bank last year.

The Economic Times · Sep 9

IDBI Bank shares crash 11% amid price concerns as Fairfax deal moves closer

IDBI Bank shares fell sharply as investors focused on Fairfax Financial Holdings’ reported Rs 81-per-share offer for a 60.72% controlling stake. The proposed Rs 53,000-crore deal and potential CSB Bank merger are key developments for investors.

The Economic Times · Sep 8

Fairfax to exit IIFL Finance before likely IDBI Bank deal; Blackstone emerges as suitor

Fairfax Financial Holdings is considering selling its IIFL Finance stake. This move supports its planned acquisition of IDBI Bank Ltd. The Canadian firm is in talks with private equity firms for this potential sale. This transaction is part of a larger strategy for the Indian banking sector. The company aims…

The Economic Times · Sep 7

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A 10% gold rally could create $400 billion in wealth for Indians. Jefferies names stocks set to benefit

Jefferies sees a 10% gold rally unlocking $20–25 billion in gold-backed loans and boosting household wealth by $400 billion, with Manappuram Finance its top pick.

The Economic Times · Aug 28

IIFL Finance shares drop 8% as IIFL Home Finance gets Rs 963 crore tax demand

IIFL Finance shares fell sharply on Tuesday after subsidiary IIFL Home Finance received a Rs 963.39 crore income tax demand covering April 2018 to February 2025. The company disputed the additions and said it is pursuing appellate remedies. Separately, IIFL Finance secured a stay on a Rs 475.56 crore tax…

The Economic Times · Aug 25

Muthoot Finance, Manappuram Finance shares rally up to 11% in 4 days as gold crosses Rs 1.63 lakh

Gold loan stocks Muthoot Finance, Manappuram Finance and IIFL Finance gained sharply as gold prices climbed on a weaker dollar and liquidity support from the US Treasury. Investors are watching US inflation data and Fed signals at Jackson Hole. Rising gold prices and geopolitical tensions continue supporting demand for gold-backed…

The Economic Times · Aug 24

Ahead of Market: 10 things that will decide stock market action on Monday

Indian equities ended marginally higher on Friday as gains in financials, metals and small-caps offset pressure from IT stocks and persistent global uncertainties. The Sensex and Nifty closed slightly higher, while broader markets outperformed. Analysts expect volatility to remain elevated, with crude prices, foreign flows, the rupee and global trends…

The Economic Times · Aug 23

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Muthoot, Manappuram Finance shares jump up to 7% in 2 days as gold crosses Rs 1.6 lakh/10 gm

Gold loan stocks Muthoot Finance, Manappuram Finance and IIFL Finance gained up to 7% in two sessions as gold prices crossed Rs 1.6 lakh per 10 grams on the MCX. A weaker dollar and the US Treasury’s bond-buyback move supported gold prices, boosting sentiment around gold-backed lending companies.

The Economic Times · Aug 21

Muthoot Finance, Manappuram, other gold financier stocks jump up to 4% as gold prices rise above Rs 1.58 lakh/10 grams

Shares of gold loan companies Muthoot Finance, Manappuram Finance and IIFL Finance rose as much as 4% as gold prices surged following the US Treasury’s decision to increase longer-dated bond buybacks. Rising gold prices can boost the value of collateral pledged against gold loans.

The Economic Times · Aug 20

Capital Group buys 1.5% stake in IIFL Fin for Rs 374 cr; stock rises over 2%

Capital Group bought a 1.49 percent stake in IIFL Finance for Rs 374 crore. This acquisition was made through open market transactions from Fairfax India's affiliate. US-based Capital Group purchased over 63 lakh shares at an average price of Rs 590. FIH Mauritius Investments, a Fairfax India subsidiary, sold an…

The Economic Times · Jul 31

Muthoot Finance, Manappuram Finance, other stocks rise up to 5% as gold prices hit Rs 1.48 lakh/10 grams

Gold prices surged past Rs 1.48 lakh per 10 grams on Friday, propelling shares of gold financiers like Muthoot Finance and Manappuram Finance up by as much as 5%. This rally was triggered by weaker-than-expected US jobs data, which cooled inflation concerns and reduced expectations of an imminent interest rate…

The Economic Times · Jul 3

Manappuram Finance, Muthoot Finance, other gold financier stocks drop up to 3%. Here's why

Shares of gold financiers declined as a sharp fall in gold prices and a stronger US dollar weighed on sentiment. Expectations of further US Federal Reserve rate hikes pressured bullion, raising concerns over collateral values and loan demand for gold-backed lenders such as Manappuram Finance, Muthoot Finance and IIFL Finance.

The Economic Times · Jun 25

Stocks in news: TCS, JSW Infra, Craftsman Automation, IIFL Finance, Transrail Lighting

Indian markets showed a positive trend on Monday, recovering some of Friday's dips, buoyed by global sentiment and strong performance in the banking sector. Several companies are making headlines: JSW Infrastructure is raising funds for expansion, TCS will announce its quarterly results and a potential interim dividend, and Craftsman Automation's…

The Economic Times · Jun 23

RBI imposes penalty on IIFL Finance

The Reserve Bank of India has fined IIFL Finance Rs 3.1 lakh for not returning surplus amounts from gold auctions to borrowers. Appnit Technologies faces a Rs 5.8 lakh penalty for KYC and PPI rule violations. These actions stem from regulatory compliance deficiencies identified during inspections. The RBI's move highlights…

The Economic Times · May 15

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The Economic Times · May 13

Manappuram Finance, IIFL Finance, other stocks rally up to 11% as gold prices soar after import duty hike

Shares of gold financiers Manappuram Finance, Muthoot Finance and IIFL Finance rallied sharply after the government raised import duty on gold to 15%, triggering a surge in domestic gold prices. Higher gold prices improve collateral value for gold loans, potentially boosting lending demand and benefiting companies focused on gold-backed financing…

The Economic Times · May 13

Smallcaps rally! IIFL Finance, Hindustan Copper, Meesho, other stocks jump up to 7%

Smallcap stocks, including IIFL Finance, Meesho, and GRSE, surged up to 7% on Wednesday, outperforming benchmark indices. This rally occurred despite broader market caution, with the Nifty Smallcap 100 index showing robust gains. Experts remain optimistic about mid and smallcap earnings, viewing recent corrections as opportunities.

Dynamite News · Mar 13, 2024

Public sector banks asked to reassess gold loan process amid debt risk concerns

The Ministry of Finance has written to public sector banks to reassess their gold loan procedures amid concerns over risky debt as gold prices surge. Read further on Dynamite News:

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