IIFL Finance Share: RBI removed the ban, the stock climbed, trading started with a jump of 9%
IIFL Finance Share: Today investors are eyeing the stock of IIFL Finance. Actually, since this morning, the shares of the company have been trading with great momentum. The Reserve Bank of India (RBI) had issued a circular on Thursday. In this circular, the bank had decided to remove the ban imposed on IIFL Finance. After this decision, the stock of the company has gained momentum.
Muskan 
In addition to the booming stock market, the shares of the finance company IIFL Finance have seen a significant increase in value. The company's shares have risen more than 9 percent since early trading this morning.
The Reserve Bank of India issued a circular on Thursday. According to this circular, the central bank has decided to lift the ban placed on IIFL Finance. The RBI prohibited the company from offering gold loans six months ago. Now that the ban has been lifted, IIFL Finance can distribute and sell gold loans again. The RBI stated that the ban had taken effect immediately.
After the RBI imposed the ban, the company's stock saw a huge decline. RBI had imposed the ban on March 4, 2024. On this day, the company's stock fell from Rs 604 to Rs 580 per share. After this, the company's stock witnessed fluctuations since March.
Talking about the performance of IIFL Finance's stock, the company's stock has given positive returns in the last 6 months. From March 20, 2024, till date, the company's stock has given a return of 65 percent. However, in the last one year, the company has given a negative return of 5 percent. According to the website of the Bombay Stock Exchange (BSE), the M-Cap of IIFL Finance is Rs 22,987.56 crore.
