Accumulation Mode

Harsh Mariwala buys 130,000 shares of L&T Finance Holdings worth ₹18 million in the recent dip

Soumik Kar

L&T Finance Holdings rallied 19% in the last week of July to Rs.185.45 after the company reported a healthy 60.30% (year-on-year) growth in consolidated net profit at Rs.5.39 billion driven by strong AUM growth and flat credit costs in June 2018 quarter. The rural finance business grew 76.2% and two-wheeler loans rose 68.0%, while farm equipment business grew at 32.5%. The housing finance business also registered strong growth of 48.1%.