Share price of Shriram Finance rises as Nifty weakens
A total of 10,662 shares changed hands on the counter till 11:36AM (IST).
Shares of Ltd. gained 0.28 per cent to Rs 2506.8 in Friday's trade as of 11:36AM (IST). The stock hit a high price of Rs 2530.9 and low of Rs 2498.2 during the session.The return on equity (ROE) for the stock stood at 13.87 per cent. Traded volume on the counter stood at 11:36AM shares and turnover at Rs 2.67 crore around that time. The stock of Ltd. quoted a 52-week high price of Rs 2578.95 and 52-week low prices of Rs 1275.0, respectively.
The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.69.
Promotor/FII Holding
Promoters held 23.42 per cent stake in the company as of 31-Dec-2023, while FIIs held 53.97 per cent and domestic institutional investors had 10.97 per cent.
Key Financials
The company reported consolidated sales of Rs 9305.75 crore for the quarter ended 31-Dec-2023, up 4.64 per cent from previous quarter's Rs 8892.99 crore and up 19.16 per cent from the year-ago quarter's Rs 7809.39 crore. Net profit after tax for the latest quarter stood at Rs 1866.24 crore, up 3.74 per cent from the same quarter a year ago.
Technicals
The MACD signalled a 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 topof 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.
Source: Stocks-Markets-Economic Times
