Hold L&T Finance Holdings, target price Rs 105: Emkay Global

0
35
Hold L&T Finance Holdings, target price Rs 105:  Emkay Global


Emkay Global has hold call on L&T Finance Holdings with a target price of Rs 105. The current market price of L&T Finance Holdings Ltd. is Rs 102.45.

L&T Finance Holdings Ltd., incorporated in the year 2008, is a Large Cap company (having a market cap of Rs 20671.88 Crore) operating in NBFC sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 3503.43 Crore, up 2.80 % from last quarter Sales of Rs 3408.10 Crore and down -3.50 % from last year same quarter Sales of Rs 3630.64 Crore Company reported net profit after tax of Rs 287.75 Crore in latest quarter.


Investment Rationale
The brokerage turned neutral on LTFH (from negative) last quarter, owing to strengthening of balance sheet and improving liquidity scenario. It raises FY22/23E EPS by ~3% (post rights dilution) and TP to Rs105 (from Rs69), supported by steady NIMs and declining credit costs, corresponding to 1.1xx FY23E P/B.

Promoter/FII Holdings
Promoters held 63.7 per cent stake in the company as of Dec 30, 2020, while FIIs held 9.4 per cent, DIIs 5.3 per cent and public and others 21.7 per cent.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here