November 21, 2017 / 4:46 AM / 2 months ago

BUZZ-India's L&T Finance falls; Citigroup selling stake in co

** L&T Finance Holdings Ltd falls as much as 3.9 pct in early trade to its lowest level in a week

** Citigroup selling 39.2 mln L&T Finance shares, or a 2.15 pct stake, worth 7.37 bln rupees ($113 million), IFR reports

** Citigroup selling shares in 180.50-188.05 rupees range, a discount of as much as 4 pct to stock’s Monday close

** More than 33 mln L&T Finance shares change hands on the NSE in a single block deal; several other block deals in stock

** Stock is top loser on Nifty Midcap 50 index

** Co has an estimated PE ratio of 25.04 versus sector average of 16.78 ($1 = 65.0500 Indian rupees)

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