IFCI shares gain for second straight session amid heavy volumes

Shares of IFCI, the state-run non-deposit taking non-banking finance company (NBFC-ND), rose for a second straight session on Tuesday, January 13, amid spike in trading activity. IFCI shares surged as much as 5.62% to hit an intraday high of ₹59.60 on the National Stock Exchange. On the BSE, IFCI shares advanced as much as 5.84% to hit an intraday high of ₹59.59.

Trading activity in IFCI shares was more than usual for a second straight session as trading volume spiked by two times to 12.30 crore shares compared with an average trading volume of 5.78 crore shares.

On the BSE, as many as 1.68 crore shares changed hands compared with an average of 37 lakh shares traded daily in the past two weeks.

IFCI was among the top five gainers in the NIFTY Smallcap 100 index which was trading 0.3% higher.

The company last week informed exchanges that the Assistant Commissioner of Income Tax has passed an order under section 154 of the Income Tax Act, 1961, whereby additional demand of ₹13.64 crore has been raised on account of reduction in the brought-forward losses.

"The Department, while passing the rectification order, has reduced the brought-forward losses in the computation of income for Assessment Year 2019-20. The assessment order and demand thereof for Assessment Year 2019-20 is already being contested before CIT(A). The Company has already obtained a stay against the existing demand and an application for stay of additional demand is also being filed. Further, the Company has sufficient MAT credit available, for set-off against the outstanding demand," IFCI said last week.

The company also said that its board will meet on January 29 to consider and approve the standalone and consolidated financial results for the quarter ended December 31, 2025.

As of 11:02 am, IFCI shares traded 2.85% higher at ₹58.05, outperforming the NIFTY Smallcap 100 index.