L&T Finance Shares Hit 52-Week High with Rs 1,350 Crore Acquisition of Paul Merchants’ Gold Loan Business

(LTF) shares surged 2.5% to a 52-week high after acquiring Paul Merchants Finance Ltd.'s (PMFL) gold loan business for Rs 1,350 crore. The deal includes 130 branches and ~700 employees, marking LTF’s entry into the gold loan market. This acquisition aligns with LTF’s strategy to expand its secured loan portfolio, as stated by CEO Sudipta Roy.