Alpha Ideas

Exactly one year back on 22 Sept,2016 , L&T Chairman A M Naik had said this:

“We made some changes in L&T Finance and it is now on track to growing return on equity. This will drive share prices more and it will cross Rs 100 in three-four months and Rs 150 by December next year ”

Now L&T Finance share price is now trading at all time highs at 213 Rs/share, comfortably beating the Chairman’s expectations.

Maybe the good folks at L&T don’t want to let their Chairman down.

So it’s interesting to hear what the esteemed Chairman has to say about L&T’s share price:

We have already touched Rs 1,70,000 crore worth of market cap. When I took over, it was Rs 2,500 crore, so now Rs 2,500 crore to Rs 1,20,000 crore is roughly 70 times what I told you and that to go to Rs 2,50,000 crore should not be difficult. I think we will be able to achieve that by 2021.

Hat Tip: Gurpreet Narang

All figures as on 31 March, 2017