Home / Market / Stock-market-news /  IFCI mulls stake sale in NSE; stock rallies

Mumbai: Shares in IFCI Ltd spiked on Friday, after the lender said that it will appoint consultants for partial divestment of its stake in the National Stock Exchange of India Ltd (NSE).

In a notice to the BSE on Friday, IFCI said that it proposes to engage consultants for the “Partial disinvestment of IFCI’s stake in National Stock Exchange of India Ltd (NSE)." IFCI will also divest its entire stake in IFCI Financial Services Ltd, said the notice.

The IFCI board has given an in-principle nod to a 2.5% stake sale in NSE, PTI had reported on 29 April. As on 31 March 2014, IFCI held 2.5 million shares in NSE, representing 5.5% stake.

At 1.45pm, shares of IFCI were trading 5.77% higher, at 40.35 on Friday on the BSE, while the benchmark index, Sensex gained 0.17% to 25,245.29 points.

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