L&T Finance Holdings has surged 11% to Rs 79.40, also its new high since listing on 12 August 2011, after announcing fund raising plans of up to Rs 325 crore through issue of debentures on private placement basis.
“The company intends to issue unsecured, redeemable, non-convertible debentures aggregating to Rs 325 crore, on private placement basis,” L&T Finance Holdings, a financial arm of Larsen and Toubro said in a filing.
The stock has rallied 43% in past one week compared to around 1% fall in the benchmark index Sensex. Today, the stock has opened at Rs 72 and has seen a combined 16.67 million shares changing hands on the counter so far against an average 13.20 million shares that were traded daily in past two weeks.
