Live Markets »News & Advice»Market News»Market News Details
Market News Details
Back

L&T Finance Holdings rises on plans to seek banking license

SI Reporter/Mumbai 01 Jul 13 | 09:52 AM
 L&T Finance Holdings Ltd
tradenow

BSE   30 Jul 14 | 12:00 AM

69.25  -0.05 (-0.07%)

NSE   30 Jul 14 | 12:00 AM

69.25  -0.05 (-0.07%)

L&T Finance Holdings is trading higher by 3.3% at Rs 81.05 after its board approved the company's proposal to apply to the Reserve Bank of India (RBl) for a banking licence.

“The board of directors of the company at its meeting held on June 29, 2013, has approved the company's proposal to apply to the RBl for a licence to set up a bank in accordance with the guidelines for licensing of new banks in the private sector issued by the RBI," L&T Financial Holdings, a financial arm of engineering company Larsen and Toubro (L&T) said in a filing.

Related Stories

    No Related Stories Found

L&T Finance Holdings was seen as one of the favorites to get a new banking licence because its parent L&T has a diversified ownership.

The stock opened at Rs 80 and touched high of Rs 81.10 on BSE. A combined 942,416 shares have changed hands on the counter till early morning deals on BSE and NSE.

Sensex

Company Price Gain (%)
Bharti Airtel373.005.26
Hero Motocorp2,601.352.69
ICICI Bank1,489.552.62
Hindalco Inds.192.602.53
Dr Reddy`s Labs2,822.252.01

Poll

Is L&T seen the top pick post the new infra lending norms by RBI?


Online Portfolio

You can create Online Portfolio here using the below button.