L&T Finance Ltd Share Price – NSE  /  BSE

Finance, Small Cap

L&T Finance will hold a meeting of the Board of Directors of the Company on 27 April 2024.

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Retail disbursements for Q4 FY23 stood at Rs 11,282 crore.

Rural Business Finance disbursements were at Rs 5,765 crore, Farmer Finance disbursements were at Rs 1,530 crore, Urban Finance disbursements were at Rs 5,980 crore and SME Finance disbursements were at Rs 1,210 crore.

The value of acquired portfolio for Q4 FY24 was Rs 545 crore as against Rs 131 crore in Q4 FY23.

Retail loan book at the end of Q4 FY24 was estimated at Rs 80,010 crore, i.e., a growth of 31% on a YoY basis.

Retailisation of the portfolio was at 94% as at end of Q4 FY24 as against 75% in Q4 FY23.

L&T Finance’s retail disbursements for FY24 stood at Rs 54,253 crore, i.e., a growth of approximately 29% on an annual basis.

L&T Finance Holdings is a non-banking financial company (NBFC). The company offers rural group loans & micro finance, farm equipment loans, two-wheeler loans, personal loans, home loans & loan against property as well as SME Loans.

The company reported 41.12% jump in consolidated net profit to Rs 640.18 crore on 2.58% to rise in total income to Rs 3,581.26 crore in Q3 FY24 over Q3 FY23.

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The key benchmark indices extended the losses in the mid-afternoon trade. The Nifty slipped below the 21,850 mark. Pharma shares declined after advancing in the past trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was down 695.14 points or 0.96% to 72,053.28. The Nifty 50 index slipped 221.90 points or 1.01% to 21,834.10.

In the broader market, the S&P BSE Mid-Cap index declined 1.15% and the S&P BSE Small-Cap index shed 0.83%.

The market breadth was weak. On the BSE, 1,199 shares rose and 2,561 shares fell. A total of 113 shares were unchanged.

Buzzing Index:

The Nifty Pharma Index declined 1.60% to 18,512.70. The index rose 0.51% in the past trading session.

Cipla (down 2.68%), Dr Reddys Laboratories (down 2.35%), Aurobindo Pharma (down 2.25%), Divis Laboratories (down 2.22%) and Torrent Pharmaceuticals (down 1.91%) were the top losers. Among the other losers were Sanofi India (down 1.66%), Laurus Labs (down 1.56%), Lupin (down 1.51%), Alkem Laboratories (down 1.5%) and Glenmark Pharmaceuticals (down 1.41%) declined.

On the other hand, Natco Pharma (up 1.39%), Glaxosmithkline Pharmaceuticals (up 0.59%) and Pfizer (up 0.47%) advanced.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.01% to 7.086 as compared with the previous close of 7.087.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.0000, compared with its close of 82.9075 during the previous trading session.

MCX Gold futures for 5 April 2024 settlement shed 0.24% to Rs 65,450.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.48% to 103.93.

The United States 10-year bond yield declined 0.30% to 4.327.

In the commodities market, Brent crude for May 2024 settlement lost 21 cents or 0.24% to $86.68 a barrel.

Stocks in spotlight:

Grasim Industries shed 0.84%. The company said an investment of Rs 1,250 crore, or $150 million, made by the World Bank Group's private sector arm, the International Finance Corporation (IFC), by way of subscription to non convertible debentures to be issued by the firm.

L&T Finance Holdings shed 0.27%. The NBFC announced that its board has approved the raising of funds by issuance of non-convertible debentures (NCDs) in one or more tranches, such that at any point of time the NCDs issued and outstanding does not exceed Rs 1,01,000 crore.

Bondada Engineering was locked in upper circuit of 5% at Rs 815.05 after the company has received a letter of intent (LoI) from the Singareni Collieries Company (SCCL) for grant of work order worth Rs 433 crore.

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The NCDs include subordinated-debt, masala bonds and perpetual debt. The amount has been decided as per the sub limits approved by the board, and within the overall borrowing limits approved by the members.

Meanwhile, the company received an order whereby the Assistant Commissioner of Central Tax of Hyderabad, Telangana has imposed a monetary penalty of Rs 8,31,810 for short payment of taxes & excess claim of ITC. The firm is contesting the order in appellate forum(s) and it does not reasonably expect the order to have any material financial impact.

L&T Finance Holdings is a non-banking financial company (NBFC). The company offers rural group loans & micro finance, farm equipment loans, two-wheeler loans, personal loans, home loans & loan against property as well as SME Loans.

The company reported 41.12% jump in consolidated net profit to Rs 640.18 crore on 2.58% to rise in total income to Rs 3,581.26 crore in Q3 FY24 over Q3 FY23.

The scrip rose 0.14% to currently trade at Rs 148.20 on the BSE.

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