This large cap stock jumped 3.5% and reached its 52- week high after FII increased their existing stake in the company. The stock saw a strong movement in the market today.
Share price of Shriram Finance Limited closed at Rs. 1955 levels. The stock gained 3.5% to reach its 52- week high of Rs. 1959.95 per share. In the last six months, the stock gave a return of 49.06%. In the last five years, it has given a consistent return of 36.31%.
On 6 September 2023, Foreign Institutional Investor(FII) Government of Singapore bought 0.29%, 10.8 lakh shares of face value of Rs. 10 each through open market application. GOS now holds a total of 4.41% stake in the company along with the Monetary Authority of Singapore who holds 0.68% stake in the company.
The company has a market capitalisation of Rs. 70909 crore. Comparing its recent financials on a QoQ basis, the company has recorded an increase of 4.02% in its revenue from Rs. 7966.45 crore in Q4FY23 to Rs. 8287.39 crore in Q1FY24.
Its net profit which was Rs. 1285.19 crore in Q4FY23 increased by 32.6% to Rs. 1705.24 in Q1FY24. It maintains a P/E ratio of 12.13 against its industry average of 28.53.
Shriram Finance Limited is the largest financier in India for micro, small and medium enterprises and two- wheelers. After the sudden increase in personal loans, the company began to produce significant revenues. The largest NBFC in India provides loans for personal and other purposes, including gold loans, auto loans, mortgage loans, and loans for small businesses.
Written by Bhumika Khandelwal
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