L&T Finance Holdings is currently trading at Rs 89.05, up by 0.65 points or 0.74% from its previous closing of Rs 88.40 on the BSE.
The scrip opened at Rs 89.00 and has touched a high and low of Rs 90.65 and Rs 89.00 respectively. So far 91791 shares were traded on the counter.
The BSE group 'T' stock of face value Rs 10 has touched a 52 week high of Rs 97.35 on 19-Dec-2012 and a 52 week low of Rs 40.35 on 15-May-2012.
Last one week high and low of the scrip stood at Rs 92.55 and Rs 87.05 respectively. The current market cap of the company is Rs 15342.72 crore.
The promoters holding in the company stood at 82.57% while Institutions and Non-Institutions held 3.64% and 13.79% respectively.
L&T Finance Holdings (LTFH) is reportedly in advanced talks with Morgan Stanley, in order to buy company’s wealth management business in India. With this initiative L&T Finance aims to strengthen its presence in the country’s nascent wealth management industry. The assets, which LTFL will buy, could be in the range of Rs 2,000 to Rs 3,000 crore.
Morgan Stanley, which employs about 400 people across businesses including capital markets, equity and fixed-income sales and trading, research, asset management and private-wealth management, had set up the wealth management unit about five years ago.
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