Buy Shriram Transport Finance Company, target price Rs 1420: IIFL

IIFL has buy call on Shriram Transport Finance Company with a target price of Rs 1420. The current market price of Shriram Transport Finance Company is Rs 1282.3. Time period given by analyst is Intra Day when Shriram Transport Finance Company price can reach defined target. IIFL recommended to keep stop loss at Rs 1298.

Shriram Transport Finance Company, incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 35064.77 Crore) operating in NBFC sector.

Financials

For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 5351.28 Crore, up 3.92 % from last quarter Total Income of Rs 5149.26 Crore and up 13.79 % from last year same quarter Total Income of Rs 4702.81 Crore. Company has reported net profit after tax of Rs 1066.87 Crore in latest quarter.

The company’s top management includes Mr.S Lakshminarayanan, Mr.Umesh Revankar, Mr.Parag Sharma, Mr.D V Ravi, Mr.Ignatius Michael Viljoen, Mr.Y S Chakravarti, Mrs.Kishori Udeshi, Mr.S Sridhar, Mr.Pradeep Kumar Panja. Company has Haribhakti & Co. LLP as its auditors. As on 30-06-2022, the company has a total of 27 Crore shares outstanding.

Investment Rationale
The stock has broken the previous swing high.

Promoter/FII Holdings
Promoters held 29.3 per cent stake in the company as of 30-Jun-2022, while FIIs owned 49.97 per cent, DIIs 15.23 per cent.