Buy Shriram Finance, target price Rs 1880: Jayesh Bhanushali

economictimes.indiatimes.com:

Shriram Finance with a target price of Rs 1880. The current market price of Shriram Finance is Rs 1812.1.

Jayesh Bhanushali recommended to keep stoploss at Rs 1760. Shriram Finance, incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 68112.07 Crore) operating in NBFC sector.

Shriram Finance key Products/Revenue Segments include Interest, Other Operating Revenue, Income From Sale Of Share & Securities, Fees & Commission Income, Income From Financial Services, Dividend and Rental Income for the year ending 31-Mar-2023.Financials For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 7979.75 Crore, up 2.18 % from last quarter Total Income of Rs 7809.39 Crore and up 56.85 % from last year same quarter Total Income of Rs 5087.59 Crore. Company has reported net profit after tax of Rs 1285.04 Crore in latest quarter. Investment Rationale The stock is making higher high- higher low pattern.Promoter/FII Holdings Promoters held 25.51 per cent stake in the company as of 31-Mar-2023, while FIIs owned 49.78 per cent, DIIs 11.74 per cent.