Shriram Finance trades higher on planning to double loan book in 3 years in Uttar Pradesh
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Shriram Finance is currently trading at Rs. 1315.00, up by 20.00 points or 1.54% from its previous closing of Rs. 1295.00 on the BSE.
The scrip opened at Rs. 1290.55 and has touched a high and low of Rs. 1315.50 and Rs. 1290.55 respectively. So far 4048 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1509.25 on 25-Jul-2022 and a 52 week low of Rs. 1002.50 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 1390.00 and Rs. 1288.30 respectively. The current market cap of the company is Rs. 48913.31 crore.
The promoters holding in the company stood at 29.37%, while Institutions and Non-Institutions held 65.16% and 5.47% respectively.
Shriram Finance is planning to double its loan book in 3 years in Uttar Pradesh, driven by a focus on MSME loans. The Assets Under Management (AUM) stand at Rs 10,770 crore (As of Sep-22) and the company plans to expand it to over Rs 20,000 crore in 3 years in UP.
The growth strategy will be focused on growing the MSME loan book since UP has the largest number of MSMEs registered under Udyam and the opportunity to provide finance to MSMEs in the state is significant. The company has also had tremendous success in financing 80,000 two-wheelers in Oct-Dec 2022 in Uttar Pradesh and the majority of their customers are self-employed. UP is the largest market for 2-wheeler sales compared to other states in 2022 and Shriram Finance has a leadership position in the state.
Shriram Finance is one of the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets.
