Chola Inv Finance shares up 1.3% as Sensex rises

Shares of Cholamandalam Investment & Finance Company Ltd. gained 1.3 per cent to Rs 848.5 in Monday's session as of 10:15AM (IST) even as the equity benchmark Sensex traded 34.16 points higher at 59689.22.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 851.8 and a 52-week low of Rs 594.0 on NSE. Around 12113 shares changed hands on the counter till 10:15AM (IST).

The stock opened at Rs 838.05 and has touched an intraday high and low of Rs 851.1 and Rs 838.05 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 27.98, earnings per share (EPS) of Rs 30.37 and price to book value (PB) of 5.01, while the return on equity (ROE) stood at Rs 18.29.

Promoter/ FII Holding
The promoters held 51.47 per cent stake in the company as of April 24, while FII and MF ownerships stood at 19.63 per cent and 17.29 per cent, respectively.

Key Financials
With a market capitalisation of Rs 69856.99 crore, the company operates in the NBFC - Diversified industry. For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 3408.09 crore, up 11.12 per cent from the previous quarter?s Rs 3067.02 crore and up 33.26 per cent from the same quarter a year ago. The company reported net profit of Rs 684.82 crore for the latest quarter, up 29.77 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 66.47. 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.