Joshi
Sorry for the delay in replying. Normally I dont track such stocks and had to collect some info.
As of October 11 there was a news about LIC showing interest in taking over IFCI. However the chairman of IFCI said in a interview that he was not aware of any such thing. The government is keen for IDBI to take over IFCI whereas IDBI is very reluctant to take it.
The accumulated loss of IFCI is about 4700 cr against a capital of 1700 cr. IFCI is currently concentrating on recovery of NPAs only and is not concentrating on any new exposure.
Things may change for better. Finally IDBI may be forced to take over. But I dont see it happening in the near future. Of course Chances of liquidation is also looks unlikely because it is a public sector enterprise. So currently the situation is not as grim as made out in the article.
However considering all the above I feel there is no point in holding on in the hope of recovery. Your money could be better invested elsewhere. I suggest to exit at the next possible rise. You could also put a stoploss to curtail your losses.
I always bang my head on the wall trying to figure out why people put their hard earned money in loss making and BIFR companies. Please do look into the company you are putting your money into. It is always better to invest in sound companies.
regards