L&T Finance Holdings has soared 16% to Rs 68.80 on back of heavy volumes on the bourses. The stock opened at Rs 59.75 and hit a high of Rs 69.25 on NSE.
A combined 11.55 million shares representing 3.9% of free-float equity capital of the company have change hands on the counter till 1436 hours against an average sub 2 million shares that were traded daily in past two weeks on BSE and NSE.
L&T Finance Holdings, a financial arm of engineering company Larsen and Toubro (L&T), is one of the candidates who have applied for banking license with the Reserve Bank of India (RBI).
The stock has rallied nearly 25% in last three trading sessions, after the new RBI governor Raghuram Rajan reiterated that new bank licences will most likely be announced around January 2014.
The RBI is undertaking the initial processing now and will refer the shortlisted applicants to the independent committee soon.
A combined 11.55 million shares representing 3.9% of free-float equity capital of the company have change hands on the counter till 1436 hours against an average sub 2 million shares that were traded daily in past two weeks on BSE and NSE.
L&T Finance Holdings, a financial arm of engineering company Larsen and Toubro (L&T), is one of the candidates who have applied for banking license with the Reserve Bank of India (RBI).
The stock has rallied nearly 25% in last three trading sessions, after the new RBI governor Raghuram Rajan reiterated that new bank licences will most likely be announced around January 2014.
The RBI is undertaking the initial processing now and will refer the shortlisted applicants to the independent committee soon.
