Dont miss out on this quality NBFC stock
The stock surged 6 per cent today
On November 30, the shares of Shriram Transport Finance Ltd surged 6 per cent to close trading at Rs 1340.85. The stock opened at Rs 1284.75 and made an intraday high and low of Rs 1374 and Rs 1274.05, respectively.
Shriram Transport Finance Company Limited is one of India’s leading deposits taking asset financing NBFC with assets under management of Rs 36,117 crore at the end of September 2022. The company provides financial services like commercial vehicle financing, working capital loans, business loans, and life insurance.
It recorded the highest-ever interest income and net interest income in Q2FY23. Interest income was Rs 1964 crore, up 24% YoY and 6.6% sequentially. NII was Rs 1231 crore, up 27.1% YoY and 6% QoQ. For the same quarter, the company registered a net profit of Rs 349 crore, representing a YoY growth of 23.8%.
Shriram Transport Finance Company Limited has more than 40 years of experience operating in the vehicle financing business. STFC benefits from a better understanding of the market and its borrowers, as evidenced by its established market position, customer relationships, and relative pricing power. Investors can bet on STFC if they are bullish on India’s economic recovery, rural income growth, and infrastructure growth.
The company has a market capitalisation of Rs 36272 crore. The stock has a 52-week high and low at Rs 1531 and Rs 1002.5, respectively.