Page 3 - L&t Finance

L&T Finance gets board's approval to raise Rs 3,000 crore via rights issue

L&T Finance Holdings on Monday said its board has approved raising of up to Rs 3,000 crore through a rights issue. "The board approved the offer and issuance of fully paid-up equity shares of the company for an amount not exceeding Rs 3,000 crore by way of a rights issue to the eligible equity shareholders of the company," L&T Finance Holdings said in a regulatory filing. The company said details of the rights issue, including price and entitlement ratio, will be determined in due course. Shares of L&T Finance Holdings Ltd were trading 0.37 per cent lower at Rs 67.35 apiece on the BSE.

Rising stress among NBFCs sets the stage for a string of portfolio buyouts

Rising stress among NBFCs, and the difficulty faced by many of them in raising resources, may force the hand of several players

Here's a Bull Spread Strategy on L&T Finance by HDFC Securities

Short term trend of the stock is positive where stock price is trading above its 5 and 20-day SMA

MARKET WRAP: Sensex slips 394 pts amid weak global cues; RIL declines 1.7%

All that happened in the markets today

Market Ahead, Aug 20: All you need to know before the opening bell

The Federal Reserve, in the minutes of its July meeting, raised concerns that the US economic recovery from the devastating effects of the pandemic faced a highly uncertain path

L&T Finance plans to raise Rs 3,367 crore through a rights issue

The financial services arm of Larsen & Toubro has started discussing the fundraising with potential advisers, said the people, who asked not to be identified as the matter is private

L&T Finance sells its remaining stake in CG Power and Industrial Solutions

Shares of CG Power were trading 4.98 per cent higher at Rs 15.39 per share on BSE

Here's a Bull Spread strategy for L&T Finance Holdings by HDFC Securities

The short term trend of the stock is positive where it is trading above its 5 and 20-day SMA.

Bumpy road ahead for L&T as order flows, project execution face challenges

As working capital requirements also rise, analysts estimate earnings to dip in FY21

It is better to be careful with cash on hand, says L&T's S N Subrahmanyan

The company's business is broadly divided into three baskets - engineering, procurement and construction (EPC) projects, manufacturing and defence, and services

Budget depicts a fine balance between stimulus and reforms: L&T Finance CEO

A reduction in personal income taxes for middle and lower middle classes is strongly positive for demand revival

L&T Finance raises Rs 300 cr through non-convertible preference shares

L&T Finance Holdings has issued non-convertible preference shares on a private placement basis to raise up to Rs 300 crore. The company has issued up to 30,000,000 cumulative compulsorily redeemable non-convertible preference shares of Rs 100 face value aggregating up to Rs 300 crore on a private placement basis, L&T Finance Holdings said in a regulatory filing on Wednesday. The preference shares carry dividend rate of 7.50 per cent per annum payable annually. Stock of the company closed at Rs 116.25 on BSE, down 1.73 per cent from previous close.

L&T Finance raises Rs 15.03 bn in early closure of public issue of bonds

L&T Finance Ltd on Tuesday announced early closure of its public issue of secured non-convertible debentures (NCDs), garnering subscription of Rs 1,503.35 crore. L&T Finance, a wholly-owned subsidiary of L&T Finance Holdings, said tranche-I issue, which opened on December 16, has been oversubscribed and has received subscription amounting to Rs 1,503.35 crore. The subscription is 3.01 times of the base issue size of Rs 500 crore. High net worth individual (HNI) and retail categories are oversubscribed by 4.18 times and 3.04 times, respectively, of the base issue. These NCDs have been rated CRISIL AAA (stable), CARE AAA (stable) and IND AAA (stable) by Crisil Ltd, Care and India Ratings, respectively. "This NCD issue is a step in the company's overall strategic intent of building a retail liability franchise," L&T Finance said.

L&T Finance launches Rs 1,500-cr NCD issue for restructuring of debt

Non-banking lender L&T Finance is raising up to Rs 1,500 crore through a bond sale, the proceeds of which will be used for on-lending and refinancing of existing debt. The base size of the issue is Rs 500 crore, with an option to retain over-subscription of up to Rs 1,000 crore, the company said on Wednesday. This is the first tranche, the company is offering three NCD issues with 36 months, 60 months and 84 months tenors offering coupon rate of 8.25-8.65 percent per annum. "The proceeds from the issue will be utilized for onward lending, financing, refinancing our existing debt and for general corporate purposes," the company said. The bonds, bearing a fixed rate of interest, are being offered under six different series and four categories of investors -- institutional investors, non- institutional investors, high net-worth individuals and retail individual investors. The issue opens on December 16 and closes on 30 and will be listed on the BSE and NSE. Lead ...

RIL, ICICI Bank and L&T Finance among big names rolling out FASTag

The most obvious beneficiary of this roll-out will be manufacturers of FASTags, or the Radio Frequency Identification chips

From ACC to L&T Finance, mid-cap shares may be in line for a comeback

India's economy is forecast to slow further to 6 per cent growth this year, following a deceleration in 2018, according to economists surveyed by Bloomberg

L&T Finance transfers 9.9% CG Power stake, valued Rs 87.5 cr, to itself

The shares were transferred from Vistra ITCL, which was earlier acting as the trustee for L&T Finance stake in CG Power

L&T Finance Holding Q2 net profit down 69% at Rs 174 cr; stock ends flat

Total income during the second quarter of 2019-20 increased to Rs 3,711.85 crore

L&T Finance reports 2% growth in net profit at Rs 549 crore in Q1

In the June quarter of FY19, L&T Finance booked a net profit of Rs 538 crore

Street cheers L&T Finance's clean-up act; net interest income up 51%

Net interest income up 51 per cent, net profit rises 71 per cent in first quarter