Risks in L&T Fin’s MFI book contained, growth on cards

L&T Finance has seen a 16% decline in its stock price due to regulatory concerns in the microfinance sector. However, the company's focus on retail lending, improving asset quality, and attractive valuation make it a buy recommendation. The company's loan book grew 18% YoY to Rs 93,015 crore, with retail loans comprising 96% of the total.