IIFL Holdings Surges 12% On Rs 1,000 Crore Investment In Finance Arm

Shares of IIFL Holdings surged as much as 11.6 per cent to hit fresh 52-week high of Rs 249 after the financial services company announced that UK-based CDC Group would invest Rs 1,000 crore in its non-banking finance company India Infoline Finance Ltd (IIFL Finance). CDC Group is a UK government-owned development finance institution. CDC's investment will help IIFL group in expanding the financing business and address the capital ...