InvestorQ : Why did the stock of IIFL Wealth spurt so sharply on Wednesday?
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Why did the stock of IIFL Wealth spurt so sharply on Wednesday?

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Deepa Salunkhe answered.
4 months ago
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IIFL Wealth Management surged 14% in the stock markets on 04 August to touch a high of Rs.1,580. This was after IIFL Wealth reported a 42% rise in PAT at Rs.119 crore. Apart from the strong operational performance shown by the company, the markets were also substantially enthused by the special dividend of Rs.35 per share that IIFL Wealth had announced along with the quarterly numbers.

Overall revenues from operations were up 7% at Rs.283 crore. In addition, the assets under management or advice, AUM, grew 15% to Rs.282,000 crore. During the March to June period, IIFLW reported strong inflows to the tune of Rs.14,300 crore which includes corporate treasury flows of Rs.5,200 crore.

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