IIFL Group stocks are in focus as unconfirmed reports indicate there might have been a search operation by the Income Tax Depart at the IIFL premises. According to media reports, IT Department has been conducting search operations since early Tuesday- January 28 morning at the IIFL Group office in downtown Mumbai.
However, there is no official statement on this from the IIFL Group. There is only one intimation from IIFL Capital rescheduling the board meeting today, “It may please be noted that due to certain exigencies, the meeting of the Board of Directors is now re-scheduled.” The IIFL Capital board was supposed to consider quarterly results.
According to Reuters, IIFL group, the companies and the income tax department did not immediately respond to Reuters’ request seeking comments.
The IIFL Finance share price plunged 9% intra-day before ending down 2%. Share price of 360 One Wam, IIFL Securities also saw significant cut on the back of the news.
With inputs from Reuters