IFCI Shares Surge 22% in Two Days, Hit 52-Week High Amid NSE IPO Hype Shares of state-owned IFCI Ltd surged 14.24% in Wednesday’s trading session, hitting a new 52-week high of Rs 81.90. This marks a total gain of 21.78% over just two trading days. The sharp rise has drawn attention from market participants, who linked the stock’s performance to its indirect exposure to the National Stock Exchange of India (NSE). IFCI holds a stake in NSE through its majority ownership of Stock Holding Corporation of India Ltd (SHCIL). The rally gained momentum amid renewed optimism surrounding the NSE’s long-awaited initial public offering (IPO), expected to launch later this month. Analysts noted that the exchange’s public listing is nearing its final stages, which has bolstered investor sentiment. Ravi Singh, Chief Research Officer at Master Capital Services, highlighted that IFCI’s investments tied to NSE have contributed to the stock’s recent traction. Kranthi Bathini of WealthMills Securities echoed this, stating that IFCI’s share price movement appears closely tied to developments around the NSE IPO. Technical analysts have identified key levels in the stock’s trajectory. Osho Krishan of Angel One observed that IFCI broke out of the Rs 65-70 resistance zone, propelling the stock toward the Rs 88-90 range. He warned that while the indicators are stretched, the stock’s momentum suggests further upside potential. Kunal Kamble of Bonanza noted a decisive bullish breakout above a long-term ascending triangle pattern, supported by strong trading volumes. He projected the stock could rise toward Rs 88-95 in the medium term, with Rs 72 now serving as a critical support level. Jigar S Patel of Anand Rathi outlined a short-term trading range of Rs 72 to Rs 82, suggesting that a move above Rs 80 could trigger additional gains.#nse #ifci_ltd #shcil #ravi_singh #kranthi_bathini
