IIFL Finance has made long bullish candlestick pattern on the daily charts with strong volumes, making higher high for fourth consecutive session. It has seen a breakout of horizontal resistance trend line adjoining multiple touchpoints - November 28, December 27, 2022, January 2, and January 13, 2023.

“Ahead of the Budget, the 17,750-17,800 zone has become very crucial. From a short-term perspective, 17850, 17 900 and 17950 puts have seen a lot of additions. That means lower levels around 17900, 17930 for the day should act as a strong support. On the upside, if we see 18,000 strike price call, that is where the highest open interest is placed.”

Fairfax-backed IIFL Finance will issue secured redeemable NCDs, aggregating to Rs 100 crore, with a green-shoe option to retain oversubscription up to Rs 900 crore (aggregating to a total of Rs 1,000 crore).

“Domestic sentiments were dented in line with global peers after the Bank of Japan (BoJ), in a surprise move, raised interest rate by 25 bps to 0.5%. Further, rising death cases in China after easing Covid-19 restrictions instilled more fear. Nifty opened the gap down and witnessed selling pressure for the most of the session," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Promoters held 24.9 per cent stake in the company as of 30-Jun-2022, while FIIs owned 23.05 per cent, DIIs 2.71 per cent.

The entity is managed and controlled by US-based private equity firm General Atlantic.The shares were sold at an average price of Rs 1,810.09 apiece, taking the transaction value to Rs 564 crore.Post the latest transaction, General Atlantic's shareholding in the company will reduce to 17.46 per cent from 20.96 per cent.

The Nifty Bank index was trading 0.25 per cent down at 42997.05.

Short-term traders who missed the rally can look to buy the stock now or on dips for a possible target above Rs 500 in the next 3-4 weeks, suggest experts.

IRB Infrastructure Developers is again gaining momentum after building a strong base at Rs 200 mark. On the weekly chart, we can observe a breakout of the Flag formation, while there is a breakout of the bullish Inverse Head and Shoulders formation on the daily chart.

The Nifty Pharma index closed 0.88 per cent up at 13228.05.

The Nifty IT index closed 0.52 per cent down at 28572.2.

The Nifty Bank index closed 0.43 per cent up at 41299.3.

The Nifty Auto index closed 0.21 per cent up at 12979.4.

The firms annualized ROE and ROA for the second quarter of the financial year 2022-23 stood at 20% and 3%, respectively. Core pre-provision operating profit stood at Rs 685 crore for the quarter up 23% year-on-year (YoY). The average borrowing costs of the company for the quarter fell 3 bps quarter-on-quarter (QoQ) and 29 bps YoY to 8.4%.

IIFL Finance has a loan AUM of $6.5 billion and ZestMoney has disbursed $1 billion through their platform so far.

Nifty formed a long bullish candle on the daily chart but analysts said the headline index is making lower highs and lower lows for the last two sessions.

IIFL Finance bought back overseas bonds worth $50 million, to reduce the cost of borrowing by up to 200 bps, reports Our Bureau. The non-banking finance company had earlier sold dollar bonds worth $400 million in February 2020. This is the second buyback after March 2022. IIFL Finance offered 5.87% coupon at issuance. The bonds mature in April 2023.

The shares were disposed of at an average price of Rs 335.64 apiece, valuing the transaction at Rs 453.16 crore.Meanwhile, Morgan Stanley Asia Singapore Pte picked up the shares of the company.As of the June quarter, CDC Group plc, which is one of the public shareholders of IIFL Finance, owned 1.35 crore shares, amounting to a 3.56 per cent stake in the company, the shareholding pattern showed.

Repco Home Finance shares closed with a 20 percent upper circuit at Rs 247.40 and rallied 56 percent in the last four consecutive sessions.

The Nifty Bank index was trading 0.25 per cent down at 39555.75.

The Nifty Realty index was trading 0.46 per cent down at 457.25.

IIFL Finance Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 13338.36 Crore) operating in NBFC sector.

IIFL Home is a housing finance company and is a wholly-owned subsidiary of IIFL Finance Limited. Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices in the market place

The non-banking finance company had posted a net profit of Rs 250 crore in the year-ago period.

Torrent Pharma has broken out from the bullish “Flag” pattern on the daily chart. After four sessions of running correction, it has resumed its uptrend. Stock price has surpassed the previous swing high resistance of Rs 2,918.

Wall Street's main indexes fell after opening higher on Monday, as a rally last week on easing concerns over inflation lost steam, with high-growth stocks leading declines. At 10:11 a.m. ET the Dow Jones Industrial Average was down 76.62 points, or 0.24%, at 31,424.06, the S&P 500 was down 13.94 points, or 0.36%, at 3,897.80 and the Nasdaq Composite was down 78.44 points, or 0.68%, at 11,529.19.

"The board of directors of the company at their meeting held today, June 23, 2022, approved the raising of funds by way of issuance of secured redeemable non-convertible debentures with the shelf limit of Rs 50,000 million, in one or more tranches,"it added.

BC Asia Investments X Ltd is indirectly held by Bain Capital Investors LLC (Bain Private Equity), Bain Capital Credit Member LLC and Bain Capital Member II (together Bain Credit) and the Canadian Pension Plan Investment Board (CPPIB).

Max Life Insurance company acquired 24.6 lakh equity shares in the financial firm and Nomura India Investment Fund Mother Fund bought 44,74,548 shares of the firm.

Stocks that were in focus included names like Suzlon which fell more than 3 per cent, Indiabulls Housing Finance which fell by over 4 per cent, and IIFL Finance which rose by over 7 per cent on Friday.

The benchmark indices ended almost 2 percent lower on June 10; global cues are expected to influence market direction

On the sectoral front, S&P BSE Bankex dropped 2.3 pent, while BSE IT index slumped 2.8 per cent. BSE Metal index lost 2.7 per cent while the realty index shed 1.6 per cent. BSE Oil and Gas index, however, notched up gains of 0.6 per cent for the week, likely buoyed by a sharp rise in global crude oil prices.

IIFL Home Finance proposed to use the additional capital to continue its granular expansion strategy into new markets to address the significant and growing demand for housing loans.

“Whereas most of the global markets have corrected significantly, Indian markets are still down 3-4% for this year as of yesterday. Interest rates have moved up substantially over the last one month, bond yields are at two-three year highs and there is inflation all around. Consider pharma stocks but avoid IT for now.”

IIFL Home Finance proposes to use the additional capital to continue its expansion into new markets to meet the growing demand for housing loans.

The deal will unlock value in IIFL Finance, which has a ₹52,000 crore loan book and market capitalisation of ₹12,500 crore. IIFL Home Finance has a loan book of ₹24,000 crore and market value of ₹11,000 crore.

This would be one of the largest equity investments in the affordable housing finance segment in India by a financial investor

“IIFL Asset Management Limited hereby clarifies that certain media reports on the Securities Exchange Board of India (SEBI)s order dated June 3, 2022, captioned ‘Front Running by Employee of India Infoline Group are grossly misleading,” the AMC said in a statement.

Sebi has barred Santosh Brijraj Singh and Adil Gulam Suthar from the market for five years while Virendra Pratap Singh, Neha Virendra Singh, Gulammohammed Gulamabbas Shaikh and Mohammedidrish A Shaikh have been restrained for two years.