L&T Finance’s board to consider final dividend this week; stock hits 52-week high - Watch video

L&T Finance share price: At the time of filing this report, L&T Finance Holdings’ stock was up 1.43 per cent at Rs 106.5 per share on the BSE.

L&T Finance share price: The brokerage has maintained a ‘buy’ call with a target price of Rs 110 apiece, image- PTI

L&T Finance share price: L&T Finance Holdings shares rose over 1 per cent in the morning deals on Tuesday, June 6, hitting the 52-week high for the second consecutive session after the company announced it would consider a final dividend on the equity shares for the financial year 2022–23 on Thursday, June 8.

"The Board of Directors of the Company will be held on June 8, 2023, inter alia, to consider the recommendation of a final dividend on the equity shares for the financial year 2022–23," the filing read.

At the time of filing this report, L&T Finance Holdings’ stock was up 1.43 per cent at Rs 106.5 per share on the BSE. The scrip ended 1.67 per cent higher at Rs 106.75 apiece. In Monday’s trade, the stock had hit a 52-week high at Rs 107 apiece but pared gains and ended at Rs 105.05 apiece, down 0.47 per cent.

TRENDING NOW

Brokerages' views

Prabhudas Liladher has given a ‘buy’ call on L&T Finance Holdings for a target price of Rs 109 apiece. "We believe that if management can achieve Lakshya's goals and continue to show strong growth in the retail book while selling the wholesale portion at a reasonable valuation, there can be a re-rating in the stock," said the brokerage.

Axis Capital believes that the company is on track to increase the share of retail loans to 80 per cent by FY26, though management is confident of achieving a higher share of 90 per cent. It expects retail loans to post a 25 per cent CAGR over the next 2–3 years.

The brokerage has maintained a ‘buy’ call with a target price of Rs 110 apiece.

L&T Finance Holdings: Past performance

So far in 2023, the stock has gained over 18 per cent against Nifty50’s rise of nearly 2 per cent. In the past one month, the shares of L&T Finance Holdings have surged over 9 per cent against the benchmark’s rise of over 1 per cent.

Catch the latest stock market updates here. For more news on sports, politics follow Zee Business

TAGS:

L&T Finance Holdings L&T Finance Holdings share price