Shriram Finance shares rise 0.87% as Nifty drops
Shriram Finance Ltd. traded 0.87 per cent up at Rs 2375.65 on Thursday at around 11:11AM (IST), while the benchmark BSE Sensex declined 367.68 points to 72255.41.
As many as 5,005 shares changed hands on the counter with a total value of Rs 1.18 crore.
The stock quoted a 52-week high price of Rs 2495.6 and a 52-week low of Rs 1190.0.
On the technical charts, the 200-DMA of the stock stood at Rs 1895.42, while 50-DMA was at Rs 2244.82. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.
Shares of the company have advanced 96.59 per cent in the past one year, while Sensex has risen 19.57 per cent during the same period.
According to BSE data, the stock trades at a price-to-earnings multiple of 13.44 and a price-to-book ratio of 1.08. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the NBFC — Diversified industry.
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