Shriram Finance shares drop 2.85% as Sensex falls
On the technical charts, the RSI of the stock stood at 60.2.
Shares of Ltd. traded 2.85 per cent down at Rs 2840.25 at 01:49PM (IST) on Tuesday, even as benchmark dropped 31.99 points to 79444.2.The scrip had closed at Rs 2923.7 in the previous session. The stock quoted a 52-week high price of Rs 3058.95 and 52-week low of Rs 1705.0, respectively. As per BSE data, total traded volume on the counter till 01:49PM (IST) stood at 10381 shares with a turnover of Rs 2.96 crore.
At the current price, the stock traded at 14.42 times its trailing 12-month EPS of Rs 196.02 per share and 1.81 times its price-to-book value, exchange data showed.
A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.
Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.69.
Shareholding Details
Promoters held 23.41 per cent stake in the company as of 31-Mar-2024, while FIIs owned 53.9 per cent and DIIs 10.8 per cent.
Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 60.2. 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. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.
Source: Stocks-Markets-Economic Times
