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IIFL Finance shares plunged 17% despite a 20% profit rise after receiving an income-tax notice for a past block period. The company deposited 1.47 crore towards potential revision of its returns. Despite the slump, IIFL Finance declared a 200% interim dividend as net profit grew to 501 crore.
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Silver prices saw a sharp decline on Thursday. This happened as stock markets rose, reaching new highs. Investors are booking profits after a significant rally in silver this year. Easing geopolitical tensions have encouraged this shift. Consumers are staying away due to price volatility. Industrial demand for silver remains a long-term factor.
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News and Media
Steel companies anticipate lower profits this quarter. Softening domestic prices and higher input costs are impacting earnings. However, non-ferrous metal producers are set for better results. Strong rebounds in aluminium, zinc, and copper prices are driving this improvement. A new safeguard duty on steel imports is expected to boost prices in the coming months.
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