5-day rally halts! L&T Finance down 7% on profit-taking post L&T stake hike

On Wednesday, the stock ended 18 per cent higher after L&T bought 41.49 million equity shares of L&T Finance Holdings for Rs 348 crore.

Shares of L&T Finance Holdings dipped 7 per cent to Rs 82.65 on the BSE in Thursday’s intra-day amid heavy volume on profit booking. At 09:52 am; the stock was down 5 per cent at Rs 84.25, as compared to a 0.09 per cent decline on the S&P BSE Sensex. A combined 33 million equity shares changed hands in the first 35 minutes of trade on the NSE and BSE.

In the past five trading sessions, the stock of L&T Group zoomed 37 per cent after its promoter Larsen & Toubro (L&T) purchased 55.75 million equity shares representing 2.3