L&T Finance Holdings plans to rationalise portfolio; stock drops 0.48%

L&T Finance closed marginally lower 0.48% to Rs.72.05.

April 20, 2016 4:17 IST | India Infoline News Service
L&T Finance closed marginally lower 0.48% to Rs.72.05. L&T Finance owned by India's largest engineering and construction company Larsen & Toubro (L&T), is planning to rationalise both its business and financial product portfolio, as it looks to either sell or merge its insurance business while seeking a minority foreign partner for its mutual fund business. 
L&T Finance Holdings Ltd ended at Rs. 72.05, down by Rs. 0.35 or 0.48% from its previous closing of Rs. 72.4 on the BSE.
The scrip opened at Rs. 72.5 and touched a high and low of Rs. 72.8 and Rs. 71.1 respectively. A total of 3746694(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 12694.61 crore.
The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 74.8 on 23-Jul-2015 and a 52 week low of Rs. 48.3 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 74.75 and Rs. 71.7 respectively.
The promoters holding in the company stood at 66.71 % while Institutions and Non-Institutions held 10.64 % and 22.65 % respectively.
The stock traded above its 200 DMA.

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