L&T Finance Holdings gains on getting nod to wind up Dubai-based subsidiary ‘L&T Capital Markets’

20 Jul 2020 Evaluate

L&T Finance Holdings is currently trading at Rs. 62.50, up by 0.85 points or 1.38% from its previous closing of Rs. 61.65 on the BSE.

The scrip opened at Rs. 62.45 and has touched a high and low of Rs. 62.90 and Rs. 61.75 respectively. So far 1167767 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 134.00 on 11-Feb-2020 and a 52 week low of Rs. 46.00 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 70.40 and Rs. 58.40 respectively. The current market cap of the company is Rs. 12520.76 crore.

The promoters holding in the company stood at 63.72%, while Institutions and Non-Institutions held 14.82% and 21.46% respectively.

L&T Finance Holdings has received approval to wind up its Dubai-based subsidiary L&T Capital Markets (Middle East), after the proposed sale plan didn't materialise. In early July, company’s share purchase agreement (SPA) with Proud Securities and Credits (an NBFC firm forming a part of InCred group) to sell 100 per cent of its shareholding in L&T Capital Markets (Middle East) was mutually terminated.

L&T Capital Markets (Middle East) is not a material subsidiary of the company and only represents nearly about 0.1 per cent of the consolidated income and consolidated net worth of the company. After this, the buyer and seller were exploring various options to decide a way forward for consummation of the transaction in accordance with the terms of the SPA.

L&T Finance Holdings is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its direct and indirect wholly-owned subsidiaries.

L&T Finance Holdings Share Price

158.85 0.00 (0.00%)
28-Mar-2024 16:01 View Price Chart
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