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L&T Finance Holdings gains on hopes of new banking licence

By Religare
L&T Finance Holdings gains on hopes of new banking licence
Shares of L&T Finance Holdings Ltd gained over 3 per cent in the morning trade on BSE after the Finance Minister P Chidambaram said Reserve Bank of India (RBI) will soon issue seven new licences.

At 10:34 hours, shares of the company were trading at Rs 69.15 a piece, up 3.44 per cent from previous close on BSE.

RBI on Friday named few more members to the committee working on new banking licences. The new members included former deputy governor Usha Thorat, former Securities and Exchange Board of India chairman Chandu Bhave and former ICICI Foundation chairman Nachiket Mor.

The committee is expected to submit its report by January 2014 following which RBI is expected to issue seven new licences.

Dion Global Solutions Ltd.

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