L&T Finance Holdings rose 1.54% to Rs 72.55 at 12:11 IST on BSE, with the stock gaining on bargain hunting after the recent slide.
Meanwhile, the S&P BSE Sensex was down 22.40 points or 0.1% at 21,810.46
On BSE, so far 24.12 lakh shares were traded in the counter as against average daily volume of 13.73 lakh shares in the past one quarter.
The stock hit a high of Rs 73.40 and low of Rs 71.85 so far during the day. The stock had hit a 52-week high of Rs 88.35 on 13 March 2014. The stock had hit a 52-week low of Rs 53 on 7 August 2013.
The stock had underperformed the market over the past one month till 19 March 2014, falling 2.99% compared with the Sensex's 5.36% rise. The scrip had also underperformed the market in past one quarter, gaining 4.23% as against Sensex's 5.43% rise.
The large-cap company has equity capital of Rs 1718.45crore. Face value per share is Rs 10.
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Shares of L&T Finance Holdings had declined 16.13% in four trading days to Rs 71.45 on 19 March 2014 from a recent high of Rs 85.20 on 12 March 2014.
L&T, the promoter of L&T Finance Holdings, cut its stake in L&T Finance Holdings to 76.62% by selling 8.32 crore shares of L&T Finance Holdings on 14 March 2014 through an Offer for Sale (OFS). L&T owned 81.5% stake in L&T Finance Holdings (as per shareholding pattern as on 31 December 2013).
The National Stock Exchange (NSE) on 11 March 2014 said it has decided to include L&T Finance Holdings for trading in the futures and options (F&O) segment with effect from 13 March 2014. NSE had on 12 March 2014 set the lot size for futures and options contracts of L&T Finance Holdings at 4,000.
L&T Finance Holdings on 14 March 2014 said that a meeting of the Board of Directors of the company will be held on 21 March 2014, to consider declaration of interim dividend on the preference shares for the year ending 31 March 2014, if any, of the company.
L&T Finance Holdings' consolidated net profit declined 62.8% to Rs 109.69 crore on 8.1% growth in total income to Rs 1315.24 crore in Q3 December 2013 over Q3 December 2012.
L&T Finance Holdings is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its wholly-owned subsidiaries.
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