India's L&T Finance gains after parent L&T, Morgan Stanley buy stake

L&T Finance

14/06/2024 07:46

** Shares of L&T Finance  LTFL.NS  up ~4% at 182.91 rupees
    ** Parent Larsen and Toubro  LART.NS  and Morgan Stanley
together bought 2.6% stake in the NBFC, after PE firm Bain
Capital's exit, per exchange data
    ** Stock on track for third straight session of gains
    ** Trading volume more than thrice its 30-day moving avg 
    ** Mean rating of 14 analysts is "buy"; median PT is 195
rupees - LSEG data
    ** LTFL up ~11% YTD, set for its third straight annual gain 
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))