Powerful partnership: multibagger NBFC surges to new 52-week high with Paytm collaboration!
The stock generated multibagger returns of 158 per cent in 3 years.
On June 30, 2023, the shares of Shriram Finance Company Limited soared 2.11 per cent, the stock hits fresh 52-week high of Rs 1767.05 per share on BSE. The intraday high and low are Rs 1767.05 per share and Rs 1699.10 per share, respectively on BSE.
Paytm partners with Shriram Finance Limited to expand its loan distribution business and increase credit inclusion. Here are key highlights of this collaboration:
- Offers its platform for Shriram Finance for digital credit for merchant loans and consumer loans
- Empowers users with easy to access loans by combining Paytm’s large user base and its digital loan distribution technology with Shriram Finance’s deep risk understanding, geographical reach and strong collections capabilities
- Expands access to credit with innovative lending products to boost the credit ecosystem in India and drive financial inclusion.
Umesh Revankar, Executive Vice Chairman - Shriram Finance Ltd said, “India is witnessing high growth in retail credit demand, it is only likely to increase with greater participation from rural and semi-urban India. A lot of this demand will come from digitally literate, young generation brought up in mobile telephone proliferation era and those having comfort in having all their transactions through handheld devices. To take advantage of this opportunity while staying true to our ethos of serving the unserved and underserved, and vision of becoming the most preferred financial services destination, Shriram Finance has collaborated with the pioneer of mobile payments, Paytm, across the country.”
Vijay Shekhar Sharma, Founder and CEO, Paytm said, “Our commitment to expand credit distribution gets further boost with our new strategic partner Shriram Finance. We are happy that together we will be able to create credit offerings to serve small merchant partners and entrepreneurs of India.”
DSIJ offers a service 'Large Rhino' with recommendations for Large-Cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
The stock is up by 35 per cent in just 1 year and generated multibagger returns of 158 per cent in 3 years. Investors should keep an eye on this multibagger Non Banking Financial Company (NBFC) stock.