India's IIFL Finance jumps as HSBC upgrades to 'buy'

IIFL Finance

13/05/2025 08:23

** India's IIFL Finance IIFL.NS rises 6% to three-month high of 411.8 rupees

** Set to rise for third straight session

** HSBC upgrades stock to "buy" from "hold", raises PT by 45% to 550 rupees

** Says recovery in microfinance, higher liquidity in system, and lower cost of funds should drive earnings recovery

** Around 7 million shares change hands on the day, ~4x their six-month daily average volume

** YTD, stock down 0.4%

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com;))