Shriram Trans Fin shares up 1.49% as Sensex falls

Shares of Shriram Finance Ltd. gained 1.49 per cent to Rs 1341.15 in Tuesday's session as of 10:56AM (IST) even as the equity benchmark Sensex traded 68.93 points lower at 59841.82.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 1509.25 and a 52-week low of Rs 1047.7 on NSE. Around 6144 shares changed hands on the counter till 10:56AM (IST).

The stock opened at Rs 1325.0 and has touched an intraday high and low of Rs 1343.0 and Rs 1321.0 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 10.16, earnings per share (EPS) of Rs 131.56 and price to book value (PB) of 1.18, while the return on equity (ROE) stood at Rs 10.42.

Promoter/ FII Holding
The promoters held 25.29 per cent stake in the company as of April 18, while FII and MF ownerships stood at 42.9 per cent and 5.67 per cent, respectively.

Key Financials
With a market capitalisation of Rs 50038.46 crore, the company operates in the NBFC - Vehicle Finance industry. For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 7809.39 crore, up 45.93 per cent from the previous quarter?s Rs 5351.28 crore and up 61.61 per cent from the same quarter a year ago. The company reported net profit of Rs 1798.88 crore for the latest quarter, up 162.22 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 65.51. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.