Shriram Finance Ltd is up for a third straight session today. The stock is quoting at Rs 3547.95, up 3.6% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.18% on the day, quoting at 25463.9. The Sensex is at 83253.4, up 0.21%. Shriram Finance Ltd has gained around 15.36% in last one month. Meanwhile, Nifty Financial Services index of which Shriram Finance Ltd is a constituent, has gained around 6.35% in last one month and is currently quoting at 23991.55, up 1.61% on the day. The volume in the stock stood at 11.43 lakh shares today, compared to the daily average of 11.94 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 3563.7, up 3.72% on the day. Shriram Finance Ltd is up 84.99% in last one year as compared to a 27.95% jump in NIFTY and a 21.26% jump in the Nifty Financial Services index.The PE of the stock is 17.17 based on TTM earnings ending June 24.Powered by Capital Market - Live

Shriram Finance has allotted 28,014 equity shares under ESOS. Pursuant to the allotment, the equity share capital has increased from Rs.3,75,96,12,500/- to Rs. 3,75,98,92,640/-.Powered by Capital Market - Live

The key equity indices traded with minor gains in afternoon trade. The Nifty traded above the 24,950 mark. All the sectoral indices on NSE were in the green with metal, PSU bank and auto shares gaining the most. Trading was volatile due to weekly F&O series expiry today. At 13:30 IST, the barometer index, the S&P BSE Sensex was up 159.54 points or 0.20% to 81,674.97. The Nifty 50 index added 81.75 points or 0.33% to 24,993.95. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1% and the S&P BSE Small-Cap index gained 0.55%. The market breadth was positive. On the BSE, 2,171 shares rose and 1,650 shares fell. A total of 135 shares were unchanged. Gainers & Losers: Shriram Finance (up 3.08%), Hero Motocorp (up 2.17%), Hindalco Industries (up 1.78%), NTPC (up 1.71%) and Mahindra And Mahindra (up 1.56%) were major Nifty gainers. Nestle India (down 1.22%), ITC (down 1.03%), Tata Motors (down 0.97%), Tata Consultancy Services (down 0.74%) and Divi's Laboratories (down 0.63%) were major Nifty losers. Shriram Finance advanced 3.08% after the company's board has approved and allotted non-convertible debentures (NCDs) on private placement basis for an issue size of Rs 1,000 crore with green shoe option of Rs 500 crore. Stocks in Spotlight: JSW Steel added 0.73%. The company said that its consolidated crude steel production for the month of August 2024 was at 23.16 Lakh tonnes, which is higher by 1% as compared with 22.86 lakh tonnes in August 2023. Adani Ports and Special Economic Zone added 1.09% after the company said that it has signed a concession agreement with DPA to develop Berth No. 13 at Deendayal Port, Kandla, Gujarat. NBCC (India) advanced 2.21% after the company announced that it has signed a memorandum of understanding (MoU) worth Rs 1,600 crore with Mahanagar Telephone Nigam (MTNL) to develop a 13.88-acre land parcel in New Delhi. GE T&D India rose 0.62%. The company received orders aggregating to 155 million Euros from Grid solutions, Middle East FZE, Dubai and SAS France. Kalpataru Projects International rose 0.68%. The company along with its international subsidiaries has secured new orders worth Rs 2,774 crore. Hindustan Petroleum Corporation (HPCL) added 0.63%. The company announced that it has received an approval from its board for the construction of pipeline from Visakh to Raipur at an estimated cost of Rs 2,212 crore. Systematix Corporate Services advanced 2.27% after its board is scheduled to meet on Saturday, 14 September 2024 to approve fund raising by way of issue of equity shares on preferential basis. Nazara Technologies gained 2.39% after the company's wholly owned subsidiary, Nazara Dubai FZ entered into share purchase agreement to acquire 15.86% stake in GetStan Technologies (STAN) for Rs 18.4 crore or $2.2 million. Global Markets: The Dow Jones index futures were up 90 points, indicating a positive opening in the US stocks today. Europeans and Asian stocks advanced on Thursday, driven by a surge in technology stocks. Meanwhile, Japanese markets soared as a softer-than-expected producer price inflation reading undermined the Bank of Japan's hawkish stance. The gains in Japanese stocks were fueled by the August producer price index (PPI) data, which came in at a lower-than-anticipated 2.5% year-over-year increase. This marked the slowest PPI growth since May, contrasting with the previous month's 3.0% rise. Regional technology stocks followed their U.S. counterparts, buoyed by Nvidia CEO Jensen Huang's optimistic outlook on strong artificial intelligence demand. Chipmakers were particularly prominent among the gainers. However, a stronger-than-expected consumer inflation reading tempered expectations for interest rate cuts. Markets are now positioning for a 25-basis-point rate cut by the Federal Reserve next week. The annual core consumer price inflation rate in the United States, excluding volatile items like food and energy, stood at a three-year low of 3.2% in August 2024, matching July's figure. U.S. stocks rebounded on Wednesday after a volatile trading session, as investors assessed the implications of the latest inflation data for Federal Reserve policy. Tech shares led the recovery from earlier lows. The S&P 500 gained 1.07%, the Dow Jones Industrial Average added 0.31%, and the Nasdaq Composite rose 2.17%. The US Labor Department reported the consumer price index (CPI) rose 0.2% last month, in line with July. Core CPI, excluding volatile food and energy components, rose 0.3% on a monthly basis, exceeding expectations. Powered by Capital Market - Live

The company said that the proceeds of the issue will be utilized for onward lending to grow the asset book, financing vehicles such as commercial vehicles, two-wheelers vehicles, cars, home loans, gold loans, personal and small business loans, refinancing of existing debt, other general purposes of the firm. Shriram Finance is India's largest retail asset financing non-banking finance company (NBFC). It is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Housing Finance, Stock Broking and Distribution businesses. The NBFC's standalone net profit jumped 18.21% to Rs 1,980.59 crore on 20% increase in total income to Rs 9,609.71 crore in Q1 FY25 over Q1 FY24. Powered by Capital Market - Live

Shriram Finance announced the onboarding of former Captain and Head Coach of the Indian Cricket Team, Rahul Dravid, as their Brand Ambassador. Powered by Capital Market - Live

Shriram Finance Ltd is up for a third straight session in a row. The stock is quoting at Rs 3032.5, up 1.71% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.14% on the day, quoting at 24574.45. The Sensex is at 80465.57, up 0.04%. Shriram Finance Ltd has risen around 7.25% in last one month. Meanwhile, Nifty Financial Services index of which Shriram Finance Ltd is a constituent, has risen around 2.97% in last one month and is currently quoting at 22976.2, down 0.22% on the day. The volume in the stock stood at 9.45 lakh shares today, compared to the daily average of 16.56 lakh shares in last one month. The benchmark August futures contract for the stock is quoting at Rs 3035.5, up 1.76% on the day. Shriram Finance Ltd is up 64.52% in last one year as compared to a 26.71% spurt in NIFTY and a 17.13% spurt in the Nifty Financial Services index.The PE of the stock is 14.95 based on TTM earnings ending June 24.Powered by Capital Market - Live

Shriram Finance has allotted 30,101 equity shares under ESOS. Pursuant to allotment of the equity shares, the paid-up share capital of the Company stands increased from Rs.3,75,93,11,490/- to Rs.3,75,96,12,500/-.Powered by Capital Market - Live

Net profit of Shriram Finance rose 18.62% to Rs 2022.80 crore in the quarter ended June 2024 as against Rs 1705.24 crore during the previous quarter ended June 2023. Sales rose 20.33% to Rs 9509.83 crore in the quarter ended June 2024 as against Rs 7902.87 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales9509.837902.87 20 OPM %73.0274.17 - PBDT2820.072379.49 19 PBT2666.592247.62 19 NP2022.801705.24 19 Powered by Capital Market - Live

Shriram Finance has allotted 22,150 Senior, secured, rated, listed, redeemable, taxable non- convertible debentures (NCDs) on private placement basis aggregating Rs 221.50 crore on 19 July 2024. Powered by Capital Market - Live

Shriram Finance will hold a meeting of the Board of Directors of the Company on 26 July 2024.Powered by Capital Market - Live