Shriram City Union Finance gains on aiming to grow gold loan book to Rs 15,000-20,000 crore over next five years
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Shriram City Union Finance is currently trading at Rs. 1708.50, up by 5.35 points or 0.31% from its previous closing of Rs. 1703.15 on the BSE.
The scrip opened at Rs. 1708.10 and has touched a high and low of Rs. 1718.25 and Rs. 1701.70 respectively. So far 474 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2600.00 on 14-Sep-2021 and a 52 week low of Rs. 1391.25 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 1795.50 and Rs. 1673.95 respectively. The current market cap of the company is Rs. 11383.73 crore.
The promoters holding in the company stood at 34.46%, while Institutions and Non-Institutions held 32.26% and 33.28% respectively.
Shriram City Union Finance is aiming to grow its gold loan book to Rs 15,000-20,000 crore over the next five years. As of December 31, 2021, the non-banking finance company's gold loan book stood at Rs 4,110 crore. Demand for gold loans has risen for the last two years. Its portfolio has contributed 13 per cent of the assets under management (AUM) as of December 2021 against 10 per cent in the previous year.
Going forward, the company is targeting an average gold loan ticket size in the range of Rs 50,000, with limited Loan to Value (LTV) at 75 per cent, leaving the scope of the marginal requirement for additional margins in times of adverse gold price fluctuations.
Shriram City Union Finance is India’s premier financial services company specializing in small-ticket retail finance.
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