Piramal Enterprises Divests Entire 8.34% Stake In Shriram Finance, Stock Hit New 52-Week High

Piramal Enterprises Ltd., on June 21, 2023, informed the exchange that it has sold its entire direct investment of 8.34% in the fully paid-up share capital of Shriram Finance Ltd. to third-party investors, on the floor of the stock exchange.

Post the announcement, the shares of Shriram Finance hit a new 52-week high on NSE. Shriram Finance is a large-cap financial sector company. It has a market valuation of Rs. 65.150.35 apiece.

Sold 8.34% Stake

The company in an exchange filing has said, "In accordance with the provisions of Regulation 30 of the Listing Regulations, we wish to inform you that the Company has sold its entire direct investment of 8.34% in the fully paid-up share capital of Shriram Finance Limited to third party investors, on the floor of the stock exchange."

Shriram Finance Stock Movement

On Thursday, the stock of Shriram Finance opened at Rs. 1,765 apiece, currently trading 0.71% down at Rs. 1,722.10 apiece on NSE.

The stock jumped 22.95% in 1 week. While, it gave a positive return of 31.79% in 1 month and 39.53% in 3 months, respectively. It gave 48.4% positive return in 1 year, 158.65% in 3 years and 16.38% in 5 yeras, respectively.

Its 52 week high is Rs. 1,7893.55 apiece, recorded on 21st June 2023 and 52 week low on 21st June 202 at Rs. 1,128.80 apiece, respectively.

About - Shriram Finance

Shriram Finance is a Financial sector company operating as NBFC. The company is a part of the SHRIRAM Group conglomerate, which has a significant presence in the financing business. Shriram Finance is engaged in business financial activities mainly focusing on commercial vehicles, Two-wheelers loans, car loans, home loans, gold loans, and personal and small business loans.