L&T Finance Holdings Ltd., incorporated in the year 2008, is a Large Cap company (having a market cap of Rs 13142.79 Crore) operating in NBFC sector.
By ETMarkets.com | Updated:
Shutterstock.com
Promoters held 63.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 7.1 per cent, DIIs 5 and public and others 24.3 per cent.
Motilal Oswal has given a buy rating to L&T Finance with a target price of Rs 90. The share price moved up by 0.69 per cent from its previous close of Rs 64.95. The stock’s last traded price is Rs 65.40.
L&T Finance Holdings Ltd., incorporated in the year 2008, is a Large Cap company (having a market cap of Rs 13142.79 Crore) operating in NBFC sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 3408.10 Crore, up .62 % from last quarter Sales of Rs 3387.06 Crore and down -5.63 % from last year same quarter Sales of Rs 3611.31 Crore Company has reported net profit after tax of Rs 247.72 Crore in latest quarter.
Investment Rationale The brokerage has cut FY21 EPS estimate by ~8% on the back of a marginal increase in credit costs from building up the contingency provision buffer. The FY22 estimates have been upgraded to factor in better NII growth. It maintains Buy, with TP of INR90 (0.9x Sep FY22E BVPS) Promoter/FII Holdings Promoters held 63.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 7.1 per cent, DIIs 5 and public and others 24.3 per cent.
