HSBC raised FY20-22 earnings by an average 5 percent.
Shriram Transport Finance Corporation share price added over 7 percent intraday on February 6 after research house HSBC maintained "buy" rating and raised target price to Rs 1,500 from Rs 1,450 per share.
The company delivered strong earnings in Q3 on stable asset quality. The growth was moderate on lower demand and margin largely stable on QoQ, said HSBC.
It raised FY20-22 earnings by an average 5 percent.
At 1204 hours, Shriram Transport Finance Corporation was quoting at Rs 1,206.80, up Rs 73.60, or 6.49 percent, on the BSE.
The share touched its 52-week high of Rs 1,296.75 on March 13, 2019 and 52-week low of Rs 909.25 July 24, 2019.
It is trading 6.94 percent below its 52-week high and 32.72 percent above its 52-week low.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.First Published on Feb 6, 2020 12:14 pm
