Shriram Finance shares up 0.3% as Sensex falls

Shares of Shriram Finance Ltd. gained 0.3 per cent to Rs 1883.2 in Wednesday's session as of 11:26AM (IST) even as the equity benchmark Sensex traded 137.88 points lower at 63737.05.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 1977.4 and a 52-week low of Rs 1190.0 on NSE. Around 2150 shares changed hands on the counter till 11:26AM (IST).

The stock opened at Rs 1877.6 and has touched an intraday high and low of Rs 1891.15 and Rs 1877.0 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 10.75, earnings per share (EPS) of Rs 175.18 and price to book value (PB) of 1.08, while the return on equity (ROE) stood at Rs 13.87.

Promoter/ FII Holding
The promoters held 25.45 per cent stake in the company as of November 01, while FII and MF ownerships stood at 54.67 per cent and 9.57 per cent, respectively.

Key Financials
With a market capitalisation of Rs 70702.25 crore, the company operates in the NBFC - Diversified industry. For the quarter ended 30-Sep-2023, the company reported consolidated sales of Rs 8892.99 crore, up 7.24 per cent from the previous quarter?s Rs 8292.53 crore and up 66.18 per cent from the same quarter a year ago. The company reported net profit of Rs 1786.11 crore for the latest quarter, up 67.0 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 50.94. 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.