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Shriram Transport Finance stock recovers, hits three-month high

The stock plunged up to 18% on Wednesday after Shriram Transport Finance's annual report mentioned a Rs 870-crore corporate guarantee which the firm provided to its unlisted entity SVL Ltd. 

The stock which opened at 1,225 fell 17.89% to an intra day low of 1,066.10 level on the BSE. The stock closed at 1298 level yesterday.
The fall can be attributed to a delay in the announcement of consolidated Q4 and annual earnings of the company.
The manufacturer of prawn, fish feeds, shrimp processor and exporter had decided to split each equity share from face value of Rs 2 to Re 1 each.