UBS downgrades India's L&T Finance on recent rally; stock falls

L&T Finance

13/06/2025 06:19

** UBS downgrades L&T Finance LTFL.NS to "neutral" from "buy", citing stock's recent run up; LTFL has zoomed 36% YTD

** Stock rated "buy" on avg; median PT is 192 rupees, per data compiled by LSEG

** Brokerage raises PT to 210 rupees from 177 rupees, sees "risk-reward getting evenly balanced"

** Says reliance on microfinance to gradually decrease, while personal loans, credit for small and medium enterprises to be key sectors

** Adds tractor, two-wheeler financing to grow moderately, home and property loan segments to maintain steady growth

** LTFL falls 1.5% to 185 rupees

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))