Recently, Harsha Mariwala, the chairman of Marico and independent board member of L&T Finance, bought 46,000 shares in L&T Finance from open market. With its pan-India presence in 24 states and a loan book size of more than Rs. 57,000, the leading multinational conglomerate, L&T Finance has a strong presence in the Indian financial market. Mariwala, who is so optimistic about L&T Finance and its future growth, says that he has bought the shares as per his individual capacity, after taking approval from the board.
It is reported that the company will deliver substantial growth in the coming years with its focus on core business and diversified loan book. Recently, L&T Finance redefined its business strategy and decided to hive off most of its non-core activities such SME loans and as car financing leases in the coming year.