L&T Finance Holdings (LTFH IN) Stock tip
Rating: BUY
CMP: Rs 71
TP: Rs 88
Recommend LTFH to ‘BUY’ from HOLD in anticipation of company continuing to increase retail portion in their overall book to at least 60% by end of FY23 and further reduce OTR book other than the retail home loan portion of Rs6.4bn by Q2FY23. LTFH’s Q1FY23 earnings (PAT at Rs2.6bn) stood above our estimates (PLe: Rs3.0bn) on account of higher provisions.
#L&TFH