Buy Shriram Transport Finance Company, target price Rs 1495: IIFL

IIFL has buy call on Shriram Transport Finance Company with a target price of Rs 1495. The current market price of Shriram Transport Finance Company is Rs 1445.4.

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 39215.53 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 30-09-2021, the company reported a Consolidated Total Income of Rs 4702.81 Crore, up 1.10 % from last quarter Total Income of Rs 4651.50 Crore and up 8.08 % from last year same quarter Total Income of Rs 4351.26 Crore. Company reported net profit after tax of Rs 771.24 Crore in latest quarter.


Investment Rationale
Stock has given a double bottom breakout on the hourly chart.

Promoter/FII Holdings
Promoters held 25.58 per cent stake in the company as of 30-Sep-2021, while FIIs owned 53.67 per cent, DIIs 14.82 per cent.