Shares of Shriram Finance fall as Nifty drops

Shares of Shriram Finance Ltd. slipped 0.51 per cent to Rs 1902.2 in Wednesday's trade as of 12:53PM (IST). It hit a high of Rs 1926.65 and low of Rs 1900.0 during the session.

The stock quoted a 52-week high price of Rs 1931.3 and a low of Rs 1147.05. The return on equity for the stock stood at 13.87 per cent. About 6,718 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.69.


The scrip has been an outperformer, up 37.4 per cent in the past one year in comparison with a 10.65 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 1147.05 on September 06, while the 50-DMA was at Rs 1820.01. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 23.47 per cent stake in Shriram Finance Ltd. as of 30-Jun-2023. Mutual funds and foreign institutional investors held 8.84 per cent and 55.36 per cent stake.