Shriram Finance shares gain 1.18% as Sensex falls

Shares of Shriram Finance Ltd. traded 1.18 per cent higher in Monday's session at 10:15AM (IST). The stock opened at Rs 2172.4 and has touched an intraday high and low of Rs 2224.9 and Rs 2167.7, respectively, during the session so far.

The stock quoted a 52-week high of Rs 2224.9 and a 52-week low of 1190.0. About 20,326 shares changed hands on the counter so far.

Benchmark Nifty50 was down 31.1 points at 21679.7, while the BSE Sensex traded 29.07 points lower at 71997.08 at the time of writing of this report.


In the Nifty pack, 22 stocks traded the day in the green, while 28 were in the red.


Key Financials
For the quarter ended 30-Sep-2023, the company reported consolidated sales of Rs 8892.99 crore, up 7.24 per cent from the previous quarter's Rs 8292.53 crore and up 66.18 per cent from the year-ago quarter. The company reported net profit of Rs 1786.11 crore for the latest quarter.

Promoter Holdings
Promoters held 25.45 per cent stake in the company as of 30-Sep-2023, while FIIs held 54.67 per cent and MFs 9.57 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1729.55 on January 08, while the 50-DMA was at Rs 2016.67. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.