L&T Finance Holdings lost nearly 5 per cent during the morning trade on Monday after reporting a 51 per cent drop in its consolidated net profit for the third quarter this fiscal.At 10:15 am,
L&T Finance Holdings slipped 3% to Rs 101.95 after the company s consolidated net profit fell 51.4% to Rs 287.75 crore on 3% decline in total income to Rs 3622 crore in Q3 December 2020 over Q3 December 2019.The NBFC s profit before tax fell 52% to Rs 348.67 crore in Q3 December 2020 over Q3 December 2019. Total tax expense in Q3 December 2020 stood at Rs 60.92 crore as compared to Rs 133.75 crore paid in Q3 December 2019. The result was announced after market hours on Friday, 15 January 2021.
L&T Finance said that the quarter saw a strong economic recovery across sectors led by rural and infrastructure. Higher farmer income, positive rural sentiment, combined with the festive season helped maintain market share in farm equipment and two-wheeler finance.
Read more about Sensex tanks 470 pts; Nifty ends below 14,300 on Business Standard. As per provisional closing data, the barometer index, the S&P BSE Sensex, dropped 470.40 points or 0.96% to 48,564.67. The Nifty 50 index lost 152.40 points or 1.06% at 14,281.70.
Benchmark indices ended with steep losses on Monday, extending fall for the second straight session. All the sectoral indices on NSE ended in red. Metal shares corrected sharply. Rising coronavirus cases across US, Europe and China weighed on investors sentiment.
The barometer index, the S&P BSE Sensex, dropped 470.40 points or 0.96% to 48,564.27. The Nifty 50 index lost 152.40 points or 1.06% at 14,281.30.
Reliance Industries (up 2.37%), HDFC Bank (up 1.15%) and ITC (up 0.76%) supported the indices. Axis Bank (down 2.79%), Infosys (down 2.49%), HDFC (down 2.49%) and ICICI Bank (down 1.94%) dragged.
In the broader market, the BSE Mid-Cap index fell 2.01% and the BSE Small-Cap index lost 1.89%. Both the indices underperformed the benchmark indices.
a. Instrument: Fully paid-up Equity Shares of face value of Rs10 each
b. Total number of Equity Shares and Rights Issue size: 46,13,25,021 fully paid-up Equity Shares each for amount aggregating to Rs 2,998.61 Crore
c. Rights Issue Price: Rs 65 per fully paid-up Equity Share [including a premium of Rs 55 per Equity Share]
d. Record date: 22 January 2021 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue (Eligible Equity Shareholders)
e. Rights Issue period:
2. Rights Issue Closing Date: 15 February 2021.
f. Outstanding Equity Shares:
2. post Rights Issue#: 246,94,45,704 Equity Shares.
#assuming full subscription
g. Rights entitlement ratio: 17:74 (17 Equity Shares for every 74 shares fully paid-up Equity Share held by the Eligible Equity Shareholders of the Company, as on the record date). If the shareholding of any of the Eligible Equity Shareholder is 5 or more, such shareholders will be entitled to at leas