Shriram Finance shares gain 1.45% as Sensex falls
Shriram Finance Ltd. traded 1.45 per cent higher in Wednesday's session at 11:38AM (IST).
The stock opened at Rs 1777.2 and has touched an intraday high and low of Rs 1827.0 and Rs 1769.7, respectively, during the session so far. The stock quoted a 52-week high of Rs 1827.0 and a 52-week low of 1147.05.
About 36,442 shares changed hands on the counter so far. Benchmark Nifty50 was up 4.65 points at 19393.65, while the BSE Sensex traded 5.27 points lower at 65473.78 at the time of writing of this report.
In the Nifty pack, 27 stocks traded the day in the green, while 22 were in the red.Key Financials For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 7979.75 crore, up 2.18 per cent from the previous quarter's Rs 7809.39 crore and up 56.85 per cent from the year-ago quarter. The company reported net profit of Rs 1285.19 crore for the latest quarter.Promoter Holdings Promoters held 25.51 per cent stake in the company as of 31-Mar-2023, while FIIs held 49.78 per cent and MFs 6.04 per cent.Technicals On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1319.13 on July 05, while the 50-DMA was at Rs 1453.28.
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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