Savings Woman Putting Coin In Piggy Bank. Savings, finances, economy and home concept.
Shares of L&T Finance Holdings jumped the most in over 3 months on strong profit. The company shares rose as much as 5 per cent in biggest daily percentage gain since January 25.
The non-banking financial company's Q4 consolidated profit rose 28 per cent to Rs 406 crore. The company’s March quarter average assets under management of investment management business was up 68 per cent at Rs 65,932 crore.
Brokerage Prabhudas Lilladher says the loan book growth of 26 per cent is “commendable”. It has cited improvement in asset quality as the main highlight.
About 12 of 14 brokerages have rated the stock as “buy” or higher, one “hold”; their median price target is Rs 226. The stock has fallen 1.3 per cent this year up to Thursday, compared with a 2.5 per cent increase in the Nifty Finance index.
Published on May 4, 2018
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