IIFL Holdings rallies on SEBI nod to be investment advisor

MUMBAI: Shares of IIFL Holdings surged nearly 5 per cent upper circuit on getting approval from SEBI to act as investment advisor.

"With this IIFL Holding would be offering a wide range of investment and financial advisory services to corporate and institutional clients," said R Venkataraman, Managing Director, IIFL Holdings.

IIFL Holdings believes going forward, the advisory services platform poses promising opportunities for servicing large clients in the new regulatory framework.

At 10:00 AM, the stock was at Rs 135.05, up 4.85 per cent, on the BSE. It touched a high of Rs 135.20 and a low of Rs 131.10 in trade today.