L&T Finance up on the buzz

The market opened today morning with L&T Finance jumping up to become the top gainer on the BSE. With an over 2 times jump in volumes, the stock hit an intra day high at Rs.78.45 and is currently at Rs.77.65, up over 3.5%.

The stock is up on news reports that the Jalan Committee, set up to scrutinize the issue of new banking licenses will be completing its work today. It is said to have reviewed all the 25 applicants and looked at the eligibility criteria of all. It is expected to send the list of the shortlisted candidates to the RBI today. L&T Finance is a leading contender and the market is assured that this is one company whose banking license will go through. In a couple of days soon, hopefully, the suspense over the new banking licenses will come to an end.