Shriram Finance shares drop 0.45% as Sensex falls
Shriram Finance Ltd. traded 0.45 per cent lower in Wednesday's session at 11:32AM (IST).
The stock opened at Rs 1871.95 and has touched an intraday high and low of Rs 1871.95 and Rs 1839.0, respectively, during the session so far. The stock quoted a 52-week high of Rs 1871.95 and a 52-week low of 1147.05.
About 15,366 shares changed hands on the counter so far. Benchmark Nifty50 was down 203.85 points at 19529.7, while the BSE Sensex traded 675.28 points lower at 65784.03 at the time of writing of this report.
In the Nifty pack, 5 stocks traded the day in the green, while 45 were in the red.Key Financials For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 8292.53 crore, up 3.92 per cent from the previous quarter's Rs 7979.75 crore and up 61.04 per cent from the year-ago quarter. The company reported net profit of Rs 1705.24 crore for the latest quarter.Promoter Holdings Promoters held 25.48 per cent stake in the company as of 30-Jun-2023, while FIIs held 55.36 per cent and MFs 8.84 per cent.Technicals On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1376.38 on August 02, while the 50-DMA was at Rs 1632.35.
If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.
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