Shriram Finance trades in green on the bourses
Shriram Finance is currently trading at Rs 658.65, up by 4.50 points or 0.69% from its previous closing of Rs 654.15 on the BSE.
The scrip opened at Rs 655.25 and has touched a high and low of Rs 665.00 and Rs 649.65 respectively. So far 70219 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 2 has touched a 52-week high of Rs 730.43 on 27-Sep-2024 and a 52-week low of Rs 438.83 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs 665.00 and Rs 630.75 respectively. The current market cap of the company is Rs 123729.26 crore.
The promoters holding in the company stood at 25.40%, while Institutions and Non-Institutions held 69.02% and 5.58% respectively.
Shriram Finance has received approval from Reserve Bank of India (RBI) for acquisition of 100% equity stake in Shriram Overseas Investments (SOIPL) from Shriram Investments Holdings.
The Company intends to acquire entire share capital of Shriram Overseas Investments which will commence Primary Dealership business on receipt of necessary approval/license of Primary Dealership from Reserve Bank of India. There exists significant opportunity to access to fixed income market with guaranteed source of funds through acquiring Primary Dealership license from RBI. The Board of Directors of the company in its meeting held on April 26, 2024 had approved the same.
Shriram Finance (Formerly Shriram Transport Finance Company) 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.
