Shriram Finance Stock Split: 5:1 Ratio, 10th January Record Date; Seize The Opportunity Today?

Shriram Finance's stock concluded Thursday's trading session on the NSE 4.53% higher at Rs 3,051 a share, with a market value of Rs 1.15LCr. Following a 5:1 stock split, National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) allocated a new ISN for equity shares with a face value of Rs. 2 that were completely paid-up.

Shriram Finance Stock Split News

"In furtherance to our earlier communication dated December 23, 2024, intimating the Record Date for Sub-division/Split of face value of Equity Shares of Shriram Finance Limited ("the Company") and pursuant to approval by the Shareholders of the Company through Postal Ballot on December 20, 2024, we inform you that National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) have assigned a new ISIN: INE721A01047 for Equity Share of face value of Rs. 2/- (Rupees Two Only) each fully paid-up. Company through Postal Ballot on December 20, 2024, we inform you that National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) have assigned a new ISIN: INE721A01047 for Equity Share of face value of Rs. 2/- (Rupees Two Only) each fully paid-up. The above mentioned ISIN will be effective from Friday, January 10, 2025 ("Record Date"). The above mentioned ISIN will be effective from Friday, January 10, 2025 ("Record Date")," said Shriram Finance in a stock exchange filing on anuary 01, 2025 January 01, 2025.

Shriram Finance Stock Split Record Date

In an aim to determine entitlement of equity shareholders for the purpose of sub- division/ split of face value of each equity share of face value of Rs.10/- each, fully paid up into 5 equity shares of face value of Rs.2/- each, fully paidup, the Board of Directors have declared Friday, January 10, 2025 as the record date.

Shriram Finance Financials

In the second quarter of the current fiscal year, the firm reported a consolidated net profit of Rs 2,153.27 crore, rising 20.17 percent from Rs 1,791.83 crore in the July to September period of 2023-2024. From Rs 8,564.45 crore in the same quarter of 2023-2024 to Rs 10,096.68 crore during Q2FY25, the NBFC's total income climbed by 18%. Its total assets under management (AUM) climbed by 20% at the end of the September 2024 quarter to Rs 2,43,042.55 crore, up from Rs 2,02,640.96 crore in the same period in 2023-2024. During the quarter, the gross non-performing asset (NPA) dropped to 5.32 percent from 5.39 percent in Q1 and 5.79 percent in Q2 of FY24.

Shriram Finance Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "SHRIRAMFIN is currently trading at Rs 3,047, showing a strong bullish reversal after bouncing off its 200-day EMA. The formation of a robust bullish candle on the daily chart, coupled with a notable increase in trading volume, highlights growing investor interest. A decisive close above the Rs 3,080 resistance level could confirm the bullish breakout, paving the way for short-term targets of Rs 3,480 and Rs 3,500. This presents an attractive opportunity for traders looking to capitalize on the stock's upward momentum."

"On the downside, immediate support is identified at Rs 2,970, offering a potential entry point for investors to buy on dips. The Relative Strength Index (RSI) stands at 53.88 and is trending upward, reflecting strengthening momentum and increasing buying pressure. To manage risk effectively, traders are advised to set a stop-loss at Rs 2,844, safeguarding against potential reversals. Given the favorable technical setup and current market conditions, SHRIRAMFIN offers a compelling trading opportunity for short-term gains," the analyst further commented.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.