The board of L&T Financial Holdings on Friday (28 August) approved raising Rs 195 crore through allotment of non-convertible debentures (NCDs) on a private placement basis to the identified investor.
The board approved allotment of 1,950 NCDs of face value Rs 10 lakh each at par aggregating to a nominal amount of Rs 195 crore.
L&T Financial Holdings' consolidated net profit tanked 73.2% to Rs 147.44 crore on a 1.8% decline in total income to Rs 3,623.14 crore in Q1 June 2020 over Q1 June 2019.
L&T Finance Holdings is a diversified non-banking financial company (NBFC).
Shares of L&T Financial Holdings rose 0.70% to Rs 71.55 on BSE yesterday, 28 August 2020. The scrip hovered in the range of Rs 71.30 to Rs 72.95 on Friday.
On the technical front, the stock's RSI (relative strength index) stood at 68.014 on Friday, 28 August 2020. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading between its 50-day moving average (DMA) placed at 65.59 and its 200-day moving average (DMA) placed at 84.16.
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