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IFCI stock pulls back after setting a new 52-week high

The shares swung from an early NSE open at ₹98.21 to a peak of ₹101.66 before falling to an intraday low of ₹95.90.

Reported · Written up by our desk · Asia

IFCI shares inched higher early in the session to hit a new 52-week high of ₹101.66 on the NSE, after opening at ₹98.21 despite tepid moves in India’s benchmark indices, according to LiveMint Markets.

The stock later gave back gains, sliding to an intraday low of ₹95.90 as profit-taking set in after the breakout.

Market experts cited a technical breakout around the ₹95 level and pointed to a potential upside toward ₹120, while recommending a strict stop loss at ₹90.

LiveMint Markets also noted IFCI’s recent performance, including 25% gains in one month, 80% over six months, and 750% returns over five years.

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