INSUBCONTINENT EXCLUSIVE:
Emkay Securities has maintained its Sell rating on L-T Finance in the long term with a target price of Rs 98
The stock closed at Rs 117.7, down 7.5% on Monday while the BSE Sensex closed 416.46 points (0.99%) down at 41,528.91.
Company FinancialsFor
the quarter ended 31-12-2019, the company has reported consolidated sales of Rs 3630.64 crore, up 0.54 % from last quarter sales of Rs
3611.31 crore and up 11.92 % from last year same quarter sales of Rs 3243.99 crore
the company has reported net profit after tax of Rs 591.47 crore in the latest quarter
Shankar Raman, Mr.S V Haribhakti, Mr.T Thomas Mathew, Ms.Nishi Vasudeva
Company has Deloitte Haskins - Sells LLP as its auditors
As on 31-12-2019, the company has a total of 2,000,507,960 shares outstanding
Investment RationaleThe brokerage said it remains skeptical about uncertainty and volatility in the business model of the company
Although the liability franchise is far superior to competitors, such volatility has impacted its cost of funds
It added that L-T Finance with a strong parentage and highquality liability franchise, has the ability to gain market share in an otherwise