IIFL Finance Shares Surge as RBI Lifts Gold Loan Restrictions

Shares of IIFL Finance surged over 7 per cent after the Reserve Bank of India lifted restrictions on its gold loan business. The company's market valuation saw a significant increase, and trading volumes were substantial on both BSE and NSE.

Shares of IIFL Finance ended over 7 per cent higher on Friday after the Reserve Bank of India (RBI) lifted restrictions imposed on its gold loan business.

The stock closed at Rs 530.75 on the BSE, marking a 7.37 per cent increase, with an intra-day high of Rs 560.50. On the NSE, it climbed 6.15 per cent to Rs 526.50, peaking at Rs 560.60 during the trading session.

The company's market valuation saw an increase of Rs 1,548.91 crore, reaching Rs 22,516.66 crore. During the trading hours, 16.40 lakh shares were traded on the BSE and 451.97 lakh shares on the NSE. The RBI's decision, effective immediately, allows the company to resume its gold loan operations in compliance with relevant regulations.

(With inputs from agencies.)