CK Narayan, MD at Growth Avenues told CNBC-TV18, "L&T Finance Holdings has been a bit of a disappointment. About a year or two ago it was one of the hotshot companies which shelled out a lot of promise. Mahindra & Mahindra Financial Services when it got listed was also expected to do well. But over the last one year they have actually disappointed the traders and they have actually let them go off the radar. So, the favourable numbers which came out yesterday has actually caught the market by surprise."
"When L&T Finance hit down to about Rs 60 sometime ago, the stock probably has created a long-term bottom. So, I would look at L&T Finance very favourably. The comments made post the results have been pretty decent. The market's response to Mahindra and Mahindra finance has been a lot better; it is up about nearly a percent and a half to two in today’s trading when the market overall is week. L&T Finance needs to get past something like Rs 67-68 and then it could probably make it to somewhere around Rs 75-80 across the short term," he said.
"These two stocks may slightly resist the downward pressure because of favourable numbers and I would use that as a small oasis if I want to put some money on the long side in the market at the moment."
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