IIFL nosedives 17% after receiving income-tax notice

IIFL Finance shares plunged 17% despite a 20% profit rise after receiving an income-tax notice for a past block period. The company deposited ₹1.47 crore towards potential revision of its returns. Despite the slump, IIFL Finance declared a 200% interim dividend as net profit grew to ₹501 crore.