India's IIFL Finance jumps 11% as cenbank lifts curbs on gold loan business

IIFL Finance

20/09/2024 04:46

** Shares of IIFL Finance  IIFL.NS  were up 10.7% at 549
rupees in pre-open trade
    ** The non-bank finance co says India's central bank lifted
the restrictions on co's gold loan business
    ** In March, RBI had ordered co to stop disbursing gold
loans over "material supervisory concerns" in its gold loan
portfolio
    ** IIFL stock has fallen ~5% since March 4, when the RBI
action came in
    ** Year to date, IIFL is down ~5.5% vs Muthoot Finance
 MUTT.NS  and Manappuram Finance  MNFL.NS  gaining ~37% and
~19%, respectively


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))