As per the Hindenburg report, Madhabi Buch and her husband Dhaval Buch, first appear to have opened their account with IPE Plus Fund 1 on June 5, 2015 in Singapore, per whistleblower documents. A declaration of funds, signed by a principal at IIFL states that the source of the investment as ‘salary’ and the couple’s net worth estimated at $10 million.
360 One WAM, an asset and wealth management firm formerly known as IIFL Wealth Management, has played down the allegations made by Hindenburg Research against the Sebi chief.
“At its peak, the fund’s assets under management (AUM) reached approximately $48 million, with over 90 per cent of the fund consistently invested in bonds,” said the wealth management firm.
Meanwhile on the bourses today, shares of 360 One WAM, IIFL Securities and IIFL Finance declined up to 5 per cent in intra-day deals; but soon recouped most of the day’s losses.
Here’s how these stocks are placed on the charts:
360 One WAM
Current Price: Rs 1,037
Bias: Range-bound likely
Support: Rs 1,025; Rs 930
Resistance: Rs 1,115; Rs 1,150
The stock price of 360 One WAM is seen treading along its 20-DMA (Daily Moving Average) for the last six trading sessions. The 20-DMA stands at Rs 1,025, with next key support level placed at Rs 930 – its 50-DMA. On the weekly scale, the stock is seen facing resistance around the 200-WMA (Weekly Moving Average) at Rs 1,150, with interim resistance seen at Rs 1,115.
IIFL Finance
Current Price: Rs 416
Upside Potential: 23.8%
Support: Rs 411; Rs 385
Resistance: Rs 450 and Rs 465
IIFL Finance has been trading with a negative bias post the steep fall in March 2024 due to RBI’s ban on fresh gold loan disbursals by the NBFC.
The stock, however, had recovered partly from a low of RS 316 and went on test its 200-DMA at Rs 535 levels in early July. The stock, however, is seen drifting lower. The stock has near support at Rs 411 and Rs 385 – wherein stands the 200-wMA.
IIFL Securities
Current Price: Rs 209
Upside Potential: 29.7%
Support: Rs 184; Rs 165
Resistance: Rs 240 and Rs 255
IIFL Securities is seen trading with a bullish bias on the weekly scale; The stock is not only trading firmly above its key moving averages, but has also been making higher highs and higher lows since the breakout above it 100-WMA in August 2023.
First Published: Aug 12 2024 | 12:54 PM IST
