CRISIL has assigned its 'CRISIL AAA/Stable' rating to the Rs 500 crore non-convertible debentures of L&T Finance Holdings Limited (LTFH; holding company of the L&T financial services [LTFS] group). The LTFS group includes LTFH and its subsidiaries and associates. CRISIL has also reaffirmed its rating on commercial paper programme at 'CRISIL A1+'.
The rating reflects the LTFS group's strong and diversified presence across the financial services space and a well-diversified resource profile. It also centrally factors in expectation of strong support from the parent, Larsen & Toubro Ltd (L&T; rated 'CRISIL AAA / FAAA / Stable / CRISIL A1+'). These strengths are partially offset by moderate, albeit improving, asset quality.
Shares of L&T FINANCE HOLDINGS LTD. was last trading in BSE at Rs.80.6 as compared to the previous close of Rs. 82.05. The total number of shares traded during the day was 801575 in over 3576 trades.
The stock hit an intraday high of Rs. 83.8 and intraday low of 80. The net turnover during the day was Rs. 65434678.