L&T Finance stock price near 52-week high

13 Jun 2024 , 02:04 PM

On June 13, around 8.82 Crore shares of L&T Finance Limited were exchanged in a block deal. Post-deal, the company’s shares rose by 5.2%, reaching a new 52-week high of ₹179.

At the time of writing, on 13 June 2024, at 1:54 pm the shares were trading at ₹176 which is a 3.42% gain than the previous close. The stock has gained 5% in the last one year, and 5.06% since the beginning of the year.

The floor price for the deal was set at a 0.85% discount to the last closing price of ₹170.62 per share.

In September last year, Bain Capital sold a 2.82% stake (7 Crore shares) in L&T Finance for ₹910 Crore through a block deal at ₹130 per share.

Prior to the September sale, Bain Capital held a 4.04% stake in L&T Finance through BC Asia Growth Investments and BC Investments VI. Post-sale, its shareholding reduced to 1.2%.

On April 27, L&T Finance reported a 10.54% increase in consolidated net profit to ₹553.88 Crore for Q4 FY24. However, net profit fell by 13.5% sequentially.

For the January-March quarter, the company’s interest income was ₹3,322.60 Crore, with Net Interest Income (NII) at ₹1,909 Crore, a 14% year-over-year increase from ₹1,679 Crore.

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