India's L & T Finance Holdings hits over 5-yr high on bets of profit growth

L&T Finance

03/01/2024 07:47

** Shares of L & T Finance Holdings  LTFH.NS  rise as much
as 5.2% to 170.80 rupees, highest since Sept. 2018
    ** Emkay Global upgrades rating to 'buy' from 'reduce' and
raises TP by ~23% to 190 rupees 
    ** Adds, robust performance in the retail business, strong
balance sheet to drive profit growth over FY24-26
    ** Morgan Stanley raises fiscal 2024, 2025 and 2026 earnings
per share est by 1.3%, 0.4% and 0.2% anticipating AUM growth,
NIM expansion and dip in credit costs
    ** More than 19.5 mln shares change hands, 2.8x the 30-day
avg
    ** Fifteen analysts covering stock on avg have a 'buy'
rating; median PT is 158.50 rupees - LSEG data
    ** Stock gained about 89% in 2023, its best since 2017


 (Reporting by Dimpal Gulwani)
 ((dimpal.gulwani@thomsonreuters.com))