India's L&T Finance gains after upbeat Q1 results

L&T Finance

18/07/2024 07:26

** Shares of L&T Finance  LTFL.NS  climb as much as 3% to
189.95 rupees before erasing gains
    ** NBFC reported 29% YoY climb in Q1 consol net profit, led
by higher net interest income which rose 23% YoY
    ** NIM also improved to 11.08% from 9.64% 
    ** Execution on retail loans continues to be good; asset
quality forecast is key for assessing sustainability, says
Morgan Stanley
    ** At least four analysts raised PT on "Buy" rated stock
since results, median PT at 209 rupees vs 195 rupees last month
- LSEG data
    ** Stock up ~12% YTD, set for third straight annual gain 
    

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