Shares of Shriram Finance rise as Nifty drops
On the technical charts, the 200-day moving average of the stock stood at Rs 2092.58.
Shares of Ltd. gained 0.26 per cent to Rs 2500.0 in Friday's trade as of 10:55AM (IST). It hit a high of Rs 2536.75 and low of Rs 2474.35 during the session.The stock quoted a 52-week high price of Rs 2605.0 and a low of Rs 1306.6. The return on equity for the stock stood at 13.87 per cent. About 111,415 shares have changed hands on the counter so far.
The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.69.
The scrip has been an outperformer, up 77.73 per cent in the past one year in comparison with a 24.03 per cent gain in .
Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 1306.6 on April 26, while the 50-DMA was at Rs 2417.13. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.
Promoter/FII Holding
Promoters held 23.41 per cent stake in Ltd. as of 31-Mar-2024. Mutual funds and foreign institutional investors held 10.8 per cent and 53.9 per cent stake.
Source: Stocks-Markets-Economic Times
