Mid-cap NBFC Stock gains 1 percent after National Company Law Tribunal (NCLT) approves amalgamation of its fellow companies into one company.
At 12:55 p.m the shares of L&T Finance Holdings were trading at Rs. 135.35 up 1.30 percent from its previous day close price and the market capitalization of the company is 33,410 Cr.
As per the company’s filing, on October 13, 2023 the National Company Law Tribunal(NCLT) has approved the amalgamation of L&T Finance Limited (LTFL) , L&T Infra Credit Limited(LTICL) and L&T Mutual Fund Trustee Limited (LTMFTL) with L&T Finance Holdings by way of merger.
The company’s revenue increased by 7.09 percent from 11,929.7 Cr in FY22 to 12,774.95 Cr in FY23, accompanied by increasing profits of 1,070.11 Cr to 1,623.25 Cr.
The company reported a return on equity (ROE) of 7.54 percent and return on capital employed (ROCE) of 13.03 percent, this indicates that the company is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 66.10 percent stake, the Domestic Institutional Investors hold 5.28 percent and the Foreign Institutional Investors (FII) hold 13.90 percent.
L&T finance Holdings Ltd is a NBFC, it offers a diverse range of financial products and services to wide range of customers across various sectors, such as Farm equipment finance, Two wheeler finance, Micro Loans, Consumer loans, Home loans, Loans against property (LAP), Real estate finance, Infra finance, Infra Debt Fund and other services.
Written by: Bharath K.S
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