L&T Fin Holdings

The matter pertains to inter-scheme transfers of L&T Mutual Fund for the period between April 01, 2017 and June 30, 2018

Stock reaching fresh 52-week highs may further see up to 23 per cent upside

In the September quarter, the company's retail book for the first time crossed Rs 50,000-crore milestone

L&T Finance Holdings on Friday completed the sale of L&T AMC to HSBC Asset Management, according to a regulatory filing. "...With respect to the proposed sale of 100 per cent of the paid-up share capital of L&T Investment Management Ltd, asset manager of L&T Mutual Fund, to HSBC Asset Management (India) Pvt Ltd, asset manager of HSBC Mutual Fund, ...the said sale transaction has been completed on November 25, 2022," the company said. L&T Investment Management Ltd (LTIML) is a wholly-owned subsidiary of L&T Finance Holdings. L&T Investment Management Ltd will receive an aggregate purchase consideration of INR (Indian currency) equivalent of USD 425 million, subject to adjustments as set out in the definitive documents as consideration for the transaction. The company has received Rs 3,484 crore (equivalent of USD 425 million) as consideration for the sale of LTIML from the purchaser; and also realised surplus cash balance of Rs 764 crore in LTIML, it said.

Firm expects NIM plus fees to stay above 8% in FY23

On Wednesday, the stock ended 18 per cent higher after L&T bought 41.49 million equity shares of L&T Finance Holdings for Rs 348 crore.

To ramp up its capacity to face asset quality pressures, LTFH aims to increase provision coverage ratio to 60 per cent by FY26

L&T Finance Holdings on Friday reported a 12 per cent increase in its net profit to Rs 326 crore for the quarter ended December 2021. The non-banking finance company (NBFC) had registered a net profit of Rs 291 crore in the year-ago period. In a statement, the company said it witnessed strong improvement in disbursements and collections in Q3FY22, and witnessed an all-time high retail quarterly disbursements of about Rs 7,600 crore, up by 29 per cent from a year ago. Total income during the October-December 2021 period, however, was down at Rs 3,099 crore, as against Rs 3,504 crore in Q3FY21. "The period saw businesses returning to pre-COVID-19 levels despite industry de-growth during the festive season. "In our retail businesses of farm and two-wheeler finance, we maintained business momentum as a leading retail financier with a stable market share, owing to our digital and data analytics capabilities," Dinanath Dubhashi, managing director and CEO of L&T Finance Holdings, ...

Data Patterns is likely to witness a bumper listing, with Grey Market Premium (GMP) indicating a likely 45-50 per cent premium to its issue price.

Ferilisers, banking shares along with result-oriented stocks like Just Dial, Jubilant Foodworks, Tata Communication, Nestle India and Rallis India to be in focus today

A clear breakdown on price action and chart patterns may lead to slide in these stocks

Quarter continued to see economic recovery across sectors led by rural and infrastructure space, company says.

The company has fixed January 22, 2021 as record date to determine the equity shareholders entitled to receive the rights entitlement in the rights issue.

Referring to loan growth, the company said the impact of Covid-19 on the book was mainly to the extent of reduction in disbursements post lockdown in March

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.

Mumbai, 25 OctoberL&T Finance Holdings (LTFH) plans to build a corpus of Rs 10 billion in two to three years, as provision for future event risk. Dinanath Dubhashi, managing director, said the intent was to make provisioning of Rs 0.5-1 billion in each quarter. It had put aside Rs 1.1 bn for this in the September quarter, taking the overall macro-prudential provision to Rs 2 bn. For two segments -- Rs 1.5 bn rural and Rs 0.5 bn for housing.The intent is to have such provisions of 1.25 per cent of the total loan book. The corpus would be over and above the expected credit loss and standard asset provision, added Dubhashi.LTFH's provision coverage has also increased. The provision coverage ratio was 62.47 per cent at end-September, from 53.57 per cent a year before.About exposure to the IL&FS group, whose holding company and lending arm have defaulted recentlyh on payments, LTFH said it had no exposure to these entities. However, it has exposure to IL&FS Transportation ...