Finace And Stock

Buy Shriram Transport Finance Company, target price Rs 1520: Yes Securities

Yes Securities has buy call on Company with a target price of Rs 1520. The current market price of Shriram Transport Finance Company Ltd. is Rs 1428.05.

Time period given by analyst is Intra Day when Shriram Transport Finance Company Ltd. price can reach defined target.

Shriram Transport Finance Company Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 38119.70 Crore) operating in NBFC sector.



Shriram Transport Finance Company Ltd. key Products/Revenue Segments include Interest, Fees & Commission Income, Other Operating Revenue, Income From Financial Services, Income From Sale Of Share & Securities and Rental Income for the year ending 31-Mar-2021.

Financials

For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 4651.50 Crore, up 3.42 % from last quarter Total Income of Rs 4497.87 Crore and up 12.23 % from last year same quarter Total Income of Rs 4144.70 Crore. Company reported net profit after tax of Rs 169.94 Crore in latest quarter.

Investment Rationale
The stock has broken out of a falling wedge pattern on higher volumes triggering resumption of the uptrend. Technical indicator RSI has turned upwards beyond 60 after forming a positive reversal suggesting strength in the stock.



Promoter/FII Holdings
Promoters held 25.1 per cent stake in the company as of June 30, 2021, while FIIs held 57.5 per cent, DIIs 11.7 per cent and public and other 5.7 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.


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