LIC Housing, L&T Finance fall 2-4% as Emkay maintains sell call after Altico Capital defaults

Money Control | Sep 13, 2019 at 10:14 AM
  • Emkay Global has reiterated its sell call on developer financiers such as L&T Finance Holdings and LIC Housing Finance after another unlisted non-banking finance company (NBFC) Altico Capital defaulted on interest payment on overseas loans.
  • Shares of L&T Finance Holdings fell 4.31 percent to Rs 92.05, LIC Housing Finance dropped 2.11 percent to Rs 397.60 and Edelweiss Financial Services lost 2.89 percent to Rs 104.30, at the time of writing this copy.
  • Altico Capital, an NBFC with more than Rs 4,000 crore of outstanding loans, has missed interest payments of Rs 20 crore on an overseas loan taken from Dubai-based Mashreq Bank.