After over five per cent decline on Monday in reaction to its results, announced after market hours on Friday, the L&T Finance Holdings stock gained over seven per cent on Tuesday. The gain was primarily on account of the rights issue priced at Rs 65 a share that will open later this week.
While the attractively priced rights issue provides an opportunity for existing investors to increase their holdings at lower costs, the important aspect to take note of is the gradually changing construct of the lender’s balance sheet in favour of retail assets.
In the December quarter (Q3), disbursements rose by