Shriram Trans Fin share price up 2.64 per cent

Shriram Trans Fin share price up 2.64 per cent
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Synopsis

A total of 21,987 shares changed hands on the counter till 11:01AM (IST).

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Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
Shares of Shriram Transport Finance Company Ltd. traded 2.64 per cent up at Rs 1090.55 at around 11:01AM (IST) on Thursday. The stock had closed at Rs 1062.45 in the previous session. Equity benchmark Sensex traded 1335.41 points higher at 55982.74 around the same time.


The scrip has declined 17.12 per cent in the last one year till date, while the 30-share index has gained 14.06 per cent during the same period.

The stock's 52-week high price stood at Rs 1696.15 and the 52-week low price at Rs 1002.5.

Trading volume on the counter stood at 21,987 shares, while it quoted a price-to-earnings ratio of 12.32, an EPS value of 88.22 and a price-to-book value of 1.66. In the Nifty50 pack, 45 stocks traded in the green, while 5 stocks were in the red.

Promoter/FII Holding
Promoters held 26.06 per cent stake in the company as of 31-Dec-2021, while overseas investor and MF ownership stood at 53.15 per cent and 6.29 per cent, respectively.

Key Financials
For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 4832.33 crore, up 2.75 per cent from the previous quarter's Rs 4702.81 crore and up 8.76 per cent from the year-ago quarter's Rs 4443.12 crore. The company reported net profit of Rs 686.02 crore for the latest quarter.

Technical Indicators
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on top of the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.

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