L&T Finance Holdings rose 3.41% to Rs 106.25 at 11:02 IST on BSE after consolidated net profit rose 15.16% at Rs 248.06 crore on 16.55% growth in total income to Rs 2141.57 crore in Q2 September 2016 over Q2 September 2015.
The result was announced after market hours yesterday, 25 October 2016.Meanwhile, the S&P BSE Sensex was down 215.66 points or 0.77% at 27,875.76
On BSE, so far 14.88 lakh shares were traded in the counter as against average daily volume of 13.79 lakh shares in the past one quarter. The stock hit a high of Rs 106.60 so far during the day, which is also record high for the stock. The stock hit a low of Rs 101.80 so far during the day. The stock had hit a 52-week low of Rs 48.30 on 12 February 2016. The stock had outperformed the market over the past 30 days till 25 October 2016, gaining 11.56% compared with 0.72% decline in the Sensex. The scrip also outperformed the market in past one quarter, surging 20.74% as against Sensex's 0.24% rise.
The large-cap company has equity capital of Rs 1754.12 crore. Face value per share is Rs 10.
L&T Finance Holdings said that rigorous focus on identified businesses and strong execution on strategic initiatives has led to robust business growth. In these focus businesses, disbursements have grown by 28% while total assets have increased by 24% in Q2 September 2016 over Q2 September 2015. L&T Finance Holdings continued to leverage technology to deliver superior customer experience and to gain market share. Mobility solutions with integrated rule based decision engines has helped sharply reduce turnaround time and standardise credit decisions, the company said.
L&T Finance Holdings is a financial holding company offering a focused range of financial products and services across rural, housing and wholesale finance sectors, as well as mutual fund products and wealth management services, through its wholly-owned subsidiaries.
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