L&T Finance gains on board's approval for banking license application

The announcement was made before market hours today, 1 July 2013.

Meanwhile, the S&P BSE Sensex was up 49.69 points or 0.26% at 19,445.50.

On BSE, 4.64 lakh shares were traded in the counter as against average daily volume of 7.12 lakh shares in the past one quarter.

The stock hit a high of Rs 81.35 and low of Rs 79.50 so far during the day. The stock had hit a record high of Rs 97.35 on 19 December 2012. The stock had hit a 52-week low of Rs 42.15 on 30 August 2012.

The stock had outperformed the market over the past one month till 28 June 2013, sliding 1.44% compared with the Sensex's 3.79% fall. The scrip had also outperformed the market in past one quarter, surging 6.15% as against Sensex's 2.97% rise.

The large-cap company has equity capital of Rs 1716.84 crore. Face value per share is Rs 10.

L&T Finance Holdings' consolidated net profit rose 21.9% to Rs 171.43 crore on 34.4% growth in total income to Rs 1153.88 crore in Q4 March 2013 over Q4 March 2012.

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.

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