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L&T Finance share price rises 5% as HSBC maintains buy

The global research firm has maintained buy rating with target at Rs 76 per share. It is of the view that rural portfolio is leading recovery in demand

September 28, 2020 / 10:55 AM IST
 
 
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L&T Finance Holdings share price jumped 5 percent intraday on September 28 after HSBC retained 'buy' stance on the stock.

The global research firm has maintained buy rating with target at Rs 76 per share. It is of the view that rural portfolio is leading recovery in demand and collections. It added that other segments are also witnessing gradual recovery, according to a CNBC-TV18 report.

However, the research firm said that restructuring impact is still uncertain with immediate focus on strengthening balance sheet. It expects growth to return in FY22.

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The stock was trading at Rs 60.95, up Rs 2.65, or 4.55 percent. It has touched an intraday high of Rs 61.70 and an intraday low of Rs 58.80.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has zero promoter pledge with book value per share improving for last 2 years.

However, Moneycontrol technical rating is bearish with moving averages being bearish and technical indicators being neutral.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​
Moneycontrol News
first published: Sep 28, 2020 10:55 am

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