IIFL Finance shares plunged 9% today; here's why

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IIFL Finance shares plunged 9% today; here's why

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IIFL Finance shares plunged 9% today; here's why

//business-finance.news-articles.net/content/202 .. l-finance-shares-plunged-9-today-here-s-why.html

Published in Business and Finance on Tuesday, January 28th 2025 at 0:20 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

IIFL Finance shares fell 8.72 per cent to hit a low of Rs 325.95 on BSE. The stock is down 21 per cent in 2025 so far and 45 per cent in the past one year.

196x110/5056 Bytes

IIFL Finance shares experienced a significant drop of 9% on March 6, 2024, following a directive from the Reserve Bank of India (RBI) to halt new gold loan sanctions. This decision was made due to concerns over the company's adherence to regulatory standards in its gold loan operations. The RBI's action was prompted by issues such as discrepancies in gold purity and weight assessments, and non-compliance with Loan-to-Value (LTV) ratio norms. Despite this, IIFL Finance is allowed to continue servicing its existing gold loan portfolio. The stock opened at ₹500.95 and hit an intraday low of ₹451.10, reflecting investor concerns over the potential impact on the company's future earnings and its ability to manage its gold loan business effectively.

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