With a target price of Rs 110, Axis Securities has a buy call on L&T Finance Holdings. L&T Finance Holdings is currently trading for Rs 92.85. The analyst’s prediction for when L&T Finance Holdings’ price will achieve its target is 3 to 4 weeks. Axis Securities advised maintaining a stop loss of Rs 85.
L&T Finance Holdings is a large cap business with a market cap of Rs 23064.10 crore that was founded in 2008 and operates in the NBFC industry.
L&T Finance Holdings key Products/Revenue Segments include Dividend, Interest for the year ending 31-Mar-2022.
Financials
Consolidated Total Income for the quarter ended September 30, 2022, announced by the company, was Rs 3257.36 crore, up 3.88% from the previous quarter’s Total Income of Rs 3135.80 crore and up 3.92% from the same quarter last year’s Total Income of Rs 3134.46 crore. In the most recent quarter, the company achieved net profit after tax of Rs. 405.57 billion.
Mr. S N Subrahmanyan, Mr. Dinanath Dubhashi, Mr. R Shankar Raman, Mr. P V Bhide, Dr. (Mrs.) Rajani Gupte, Mr. T Thomas Mathew, Mr. Shailesh Haribhakti, and Mr. Pavninder Singh are among the company’s senior executives. The company’s auditors are Deloitte Haskins & Sells LLP. 248 Crore shares of the company’s outstanding stock as of September 30, 2022.
Investment Rationale
The stock has clearly risen above the “Symmetrical triangle” pattern that has been present on the weekly chart since November 2021. Rising volume, which typically dried up during the consolidation pattern creation, is present with this breakout. As the stock closed above the upper Bollinger Band on a weekly basis, the “Bollinger band” generated a buy signal. The reference line of the RSI’s weekly strength indicator, which measures readings above 50, shows strong momentum.
Promoter/FII Holdings
As of September 30, 2022, promoters owned 66.2% of the company, FIIs owned 6.61%, and DIIs owned 5.35%.
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