Fitch affirms IIFL Finance at B-plus with stable outlook ANI | Updated: Mar 16, 2021 15:05 IST
Singapore, March 16 (ANI): Fitch Ratings on Tuesday affirmed IIFL Finance Ltd s long-term issuer default rating at B-plus and removed the rating from rating watch negative (RWN).
The outlook is stable, reflecting Fitch s view of easing downside risk to the company s credit profile due to less adverse economic and funding conditions which is expected to be broadly sustained in the coming year.
The ratings were placed on RWN in March 2020 and maintained on RWN at the last review in September 2020.
IIFL Finance s rating is driven by its standalone credit profile, reflecting its moderate local franchise and diversified loan portfolio, balanced against more opportunistic strategy and execution, exposure to higher-risk loan segments and a more market-sensitive funding profile that is less cushioned by contingent funding and liquidity buffers relative to
Jagran Prakashan Ltd, Vaibhav Global Ltd, Sonata Software Ltd and IIFL Finance Ltd are among the other gainers in the BSE s A group today, 22 February 2021.
Jagran Prakashan Ltd, Vaibhav Global Ltd, Sonata Software Ltd and IIFL Finance Ltd are among the other gainers in the BSE s A group today, 22 February 2021.
Hindustan Copper Ltd surged 16.07% to Rs 99.7 at 11:49 IST. The stock was the biggest gainer in the BSE s A group. On the BSE, 9.17 lakh shares were traded on the counter so far as against the average daily volumes of 6.25 lakh shares in the past one month.
Jagran Prakashan Ltd spiked 12.28% to Rs 54.85. The stock was the second biggest gainer in A group. On the BSE, 3.53 lakh shares were traded on the counter so far as against the average daily volumes of 62629 shares in the past one month.
Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 75.83 points or 0.94% at 8012.52 at 13:48 IST. Among the components of the S&P BSE Finance index, IIFL Finance Ltd (down 4.76%), Bajaj Finserv Ltd (down 3.08%),Arman Financial Services Ltd (down 2.62%),Power Finance Corporation Ltd (down 2.54%),IndusInd Bank Ltd (down 2.31%), were the top losers. Among the other losers were RBL Bank Ltd (down 2.11%), HDFC Bank Ltd (down 2.05%), Housing Development Finance Corporation Ltd (down 2.01%), Indiabulls Housing Finance Ltd (down 1.92%), and Paisalo Digital Ltd (down 1.84%). On the other hand, Indian Overseas Bank (up 20%), Bank of Maharashtra (up 20%), and Bank of India (up 19.77%) moved up.