With Friday’s 3.3% gain, L&T Finance Holdings Limited stock reached a new 52-week high. At the close, shares of L&T Finance Holdings were up 3.3% to 91.35 rupees. Seven out of the previous 10 trading days have seen the stock go up, and in that time, shareholders have got a return of nearly 13%.
About The Finance Company
It is one of the leading non-banking finance companies in India and is a part of the Larsen & Toubro Group. It provides services in housing finance and vehicle finance to individuals, small and medium enterprises, and corporate customers across India. With its comprehensive product offerings and services such as consumer finance, retail financial services, project finance, structured wealth, equity broking, capital market services, commodity broking, and rural finance, L&T Finance Holdings Limited has become a one-stop shop for financial services in India. The company has a strong presence in more than 3,500 locations across India and is offering its services to more than 10 million customers.
The company closed the sale of L&T AMC, its mutual fund division, to HSBC Asset Management pvt ltd. last month. According to the final accords, it got Rs. 3484 crore as payment for the sales and also recognized a Rs. 764 crore excess cash balance in L&T Investment Management Ltd.
L&T Finance Holdings Limited Predicted Targets& Time to Buy
L&T Finance Holdings Limited, a player in the financial services industry, has regained momentum after trialing key support levels, and most technical indications also point to a 50% increase, according to analysts. The fact that the share price is now trading substantially higher than the short-term and long-term moving averages of 5,10,30,50,100 and 200-DMA in itself is a bullish indicator.
It has been recommended to ‘BUY’ by Axis Securities, with a target price of Rs 110. L&T Finance is now trading at Rs 93.50 in the market. Analysts estimate that its price will achieve its objective in 3-4 weeks. Axis Securities advised keeping the stop loss at Rs 85.
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