L&T finance holding chart put up below. It has formed a double bottom at 58-59. Confirmation of the double bottom breakout would happen on break out above 113. CMP 83. If that breakout happens in the future, target can be 167. At present consolidating within a symmetrical triangle as marked on chart. A breakout from that will happen on breakout and close above 84-85.
Fundamentally it has posted decent results for q2 FY 23, and management has articulated its Vision (Lakshya 26 ) 2026, wherein they aim for retail loan book of 80%, and class leading ROA and asset quality. As of now they seem to be making progress on that path. Currently available at close to book value. If going ahead, they can start going closer towards their stated targets for 2026, this can be rerated from 1 times book to higher multples.
Another important event in q3 fy 23 would be receiving the funds from divestment of MF business to the tune of 425 million USD and in a rising interest rate scenario would be good for the company.
disc; invested based on techno funda picture. (not a buy/sell recommendation. )
