Shriram Transport Finance share price gained 6.4% in early trade after T Rowe Price raised its stake in the company to 5.36% from 4.77% earlier.
Shriram Transport Finance share price opened with a gain of 2.65% and later touched an intraday high of Rs 654.85, rising 6.36% on BSE today compared to earlier close of Rs 615.70. The stock has gained 9.07% in one week.
Shriram Transport Finance share has gained 3.13% in last 2 sessions. Shriram Transport Finance share price trades higher than its 5 and 20-day but lower than 50, 100 and 200-day moving averages.
Market capitalisation of Shriram Transport stood at Rs 14,337.85 crore.
T. Rowe Price Associates- a US-based global investment management firm, bought 13.53 lakh equity shares or 0.59% stake in Shriram Transport Finance on Friday, as per the disclosure made on Saturday.
The company's Q4 earnings is scheduled to be released on June 10, 2020. On the board meeting, the company also plans to issue redeemable non-convertible debentures (NCDs) on a private placement basis in tranches.