Shriram Finance's board will meet on October 25 to discuss a proposed split of its existing equity shares, the company announced on Friday. In addition, the board is set to approve the financial results for the September quarter and declare an interim dividend.
Shares of Shriram Finance jumped 3% to hit the day's high of Rs 3341.
The Nifty stock entered the prestigious club in March this year, replacing UPL. It has rallied 80% in the past one year while its year-to-date returns stand at 63%.
The counter has been trading above its 50-day and 200-day simple moving averages (SMA) of Rs 3,287 and Rs 2,693, respectively.
The NBFC had reported a consolidated net profit of Rs 2,022.8 crore for the quarter ended June 30, 2024. It was up 19% over Rs 1,705 crore reported by the company in the year-ago period. The company reported total revenue from operations at Rs 9,605 crore in the reported quarter, up from Rs 8,003 crore in Q1FY24. It was higher by 20% on a YoY basis.
The net interest income (NII) for the first quarter ended June 30, 2024, increased by 20.63% and stood at Rs 5,354.47 crore as against Rs 4,438.68 crore in the same period of the previous year. The earnings per share (basic) increased by 17.82% and stands at Rs 52.70 as against Rs 44.73 recorded in the same period of the previous year.
Shares of Shriram Finance jumped 3% to hit the day's high of Rs 3341.
The Nifty stock entered the prestigious club in March this year, replacing UPL. It has rallied 80% in the past one year while its year-to-date returns stand at 63%.
The counter has been trading above its 50-day and 200-day simple moving averages (SMA) of Rs 3,287 and Rs 2,693, respectively.
The NBFC had reported a consolidated net profit of Rs 2,022.8 crore for the quarter ended June 30, 2024. It was up 19% over Rs 1,705 crore reported by the company in the year-ago period. The company reported total revenue from operations at Rs 9,605 crore in the reported quarter, up from Rs 8,003 crore in Q1FY24. It was higher by 20% on a YoY basis.
The net interest income (NII) for the first quarter ended June 30, 2024, increased by 20.63% and stood at Rs 5,354.47 crore as against Rs 4,438.68 crore in the same period of the previous year. The earnings per share (basic) increased by 17.82% and stands at Rs 52.70 as against Rs 44.73 recorded in the same period of the previous year.
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