This stock surged more than 12 per cent today after announcing 200 per cent dividend!

The stock has shown positive performance as it surged more than 46 per cent in the last 6 months and more than 55 per cent in 1 year

A day ahead of the Union Budget, shares of IIFL Finance surged more than 12 per cent to make an intraday high of Rs 527.20. The scrip witnessed a massive spurt in volume by more than 1.34 times and closed 9.45 per cent, up at Rs 514.45. The company declared an interim dividend of 200 per cent, i.e, Rs 4 per share.  

On January 30, 2023, the company announced Q3FY23 results wherein the net profit after tax increased by 37 per cent on YoY basis to Rs 423 crore. IIFL Finance had loan assets under management (loan AUM) of Rs 57,941 crore as at December 31, 2022, with the Home Loans segment constituting 35 per cent, Gold Loans 32 per cent, Loan Against Property 11 per cent, Digital Loans 3 per cent and Microfinance Loans 14 per cent of the total AUM. Overall core loan portfolio grew by 26 per cent on YoY basis and non-core (primarily construction & real estate finance) portfolio shrunk by 7 per cent.  

IIFL Finance Ltd is one of the leading retail focused diversified NBFC in India, engaged in the business of loans and mortgages along with its subsidiaries - IIFL Home Finance Limited and IIFL Samasta Finance Limited. IIFL Finance, through its subsidiaries, offers a wide spectrum of products such as Home loan, Gold loan, Business loan, Microfinance, Capital Market finance and Developer & Construction finance to a vast customer base of over 8 million+ customers.   

The stock has shown positive performance as it surged more than 46 per cent in the last 6 months and more than 55 per cent in 1 year. Keep a close eye on this trending stock.