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IIFL Finance shares jump after JPMorgan starts overweight coverage

IIFL Finance logoIIFL Finance
Sig1.22Sen+3.56Env0.00Soc0.00Gov0.00
Muthoot Finance logoMuthoot Finance
Sig1.90Sen+4.60Env0.00Soc+0.80Gov0.00
JPMorgan Chase logoJPMorgan Chase
Sig1.22Sen+1.65Env0.00Soc0.00Gov0.00

IIFL Finance shares rose as JPMorgan initiated coverage of gold financiers with an overweight rating. IIFL Finance climbed to an intraday high before paring some gains, trading up around 6.5% later. JPMorgan set a Rs 750 target, citing an early turnaround supported by higher profitability and growth in Indian gold loans.

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