L&T Finance rises for third day; up over 22% in three months

L&T Finance Holdings jumped 8.33% to Rs 81.25, extending gains for third day in a row.

The stock has added 11.45% in three sessions, from its recent closing low of Rs 72.90 recorded on 22 August 2022.

On the technical front, the stock's daily RSI (relative strength index) stood at 66.294. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On daily chart, the stock is trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 72.43, 76.23 and 76.21, respectively.

In the past six months, the stock has gained 22.91% while the benchmark Sensex has added 6.04% during the same period.

L&T Finance Holdings is a non-banking financial company (NBFC) that offers a range of financial products and services through its wholly owned subsidiaries.

The NBFC reported 47% YoY jump in consolidated net profit to Rs 262 crore in Q1 FY23. Total income in the first quarter increased marginally to Rs 3,136 crore from Rs 3,116 crore reported in the same period last year.

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