Sell Shriram Transport Finance Company, target price Rs 1030: Kotak Securities

Kotak Securities has sell call on Shriram Transport Finance Company with a target price of Rs 1030. The current market price of Shriram Transport Finance Company is Rs 1068. Time period given by analyst is Intra Day when Shriram Transport Finance Company price can reach defined target.

Shriram Transport Finance Company Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 28803.59 Crore) operating in NBFC sector.

Shriram Transport Finance Company Ltd. key Products/Revenue Segments include Interest, Fees & Commission Income, Other Operating Revenue, Income From Financial Services, Income From Sale Of Share & Securities and Rental Income for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 5087.59 Crore, up 5.28 % from last quarter Total Income of Rs 4832.33 Crore and up 13.11 % from last year same quarter Total Income of Rs 4497.87 Crore. Company reported net profit after tax of Rs 1086.13 Crore in latest quarter.

Investment Rationale
Closed below its support level of the rising channel on the daily chart, which indicates fresh downside

Promoter/FII Holdings
Promoters held 26.45 per cent stake in the company as of 31-Mar-2022, while FIIs owned 53.88 per cent, DIIs 14.0 per cent.