Share price of Shriram Finance falls as Nifty strengthens
Shriram Finance Ltd. slipped 0.45 per cent to Rs 3128.15 in Friday's trade as of 11:46AM (IST). The stock hit a high price of Rs 3165.75 and low of Rs 3128.05 during the session.
The return on equity (ROE) for the stock stood at 15.04 per cent. Traded volume on the counter stood at 11:46AM shares and turnover at Rs 0.82 crore around that time. The stock of Shriram Finance Ltd. quoted a 52-week high price of Rs 3189.0 and 52-week low prices of Rs 1760.9, 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 25.0 per cent stake in the company as of 30-Jun-2024, while overseas investors held 54.28 per cent and domestic institutional investors had 10.18 per cent.
Key Financials The company reported consolidated sales of Rs 9609.71 crore for the quarter ended 30-Jun-2024, down 3.11 per cent from previous quarter's Rs 9918.3 crore and down 15.88 per cent from the year-ago quarter's Rs 8292.53 crore. Net profit after tax for the latest quarter stood at Rs 2022.8 crore, up 18.62 per cent from the same quarter a year ago.
Technicals
The MACD signalled a bullish 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
