Shriram Finance shares hit record high post Q3 earnings; check details

Shares of Shriram Finance Ltd hit a record high in early trade today after the NBFC reported a net profit of Rs 1818.3 crore for the December 2023 quarter against a profit of Rs 1777 crore year-on-year (YoY) basis.

Shriram Finance stock gained 6.18% to Rs 2448.85 against the previous close of Rs 2306.15 on BSE. On the other hand, Shriram Finance stock fell to a 52 week low of Rs 1190 on February 28, 2023.

Shriram Finance stock has gained 90.72% in a year and zoomed 30.22% in six months. Total 0.37 lakh shares of the firm changed hands amounting to a high turnover of Rs 8.80 crore on BSE. Market cap of Shriram Finance rose to Rs 88,890 crore.

The stock has seen very less volatility in a year with a beta of 0.4. In terms of technicals, the relative strength index (RSI) of the stock stands at 65.8, signaling the stock is trading neither in the overbought nor in the oversold zone. Shriram Finance shares are trading higher than the 5 day, 20 day, 30 day, 50 day, 100 day, 200 day moving averages.

Net interest income (NII), the difference between interest income a bank earns from its lending activities and the interest it pays to depositors, climbed 17.1% to Rs 4,911 crore against Rs 4,192.1 crore in the corresponding quarter of FY23.

The total assets under management at the end of Q3 surged 20.70% and stood at Rs 214,233.47 crore against Rs 177,498.02 crore as of December 31, 2022, and Rs 202,640.96 crore as of September 30, 2023.

The earnings per share (basic) climbed 2.02% and stands at  Rs 48.42 against Rs 47.46 recorded in the year-ago period. The board declared an interim dividend of Rs 10 (100%) per share, with the record date for the entitlement fixed as February 6, 2024.

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