Shriram Transport Finance soars 10% in sharpest intra-day rally in 6 months

For Q2FY21, Shriram Transport reported a better-than-expected net profit at Rs 685 crore, on back net interest income of Rs 2,022 crore and lower-than-estimated provisioning.

Shares of Shriram Transport Finance Company rallied 10 per cent to Rs 762 on the BSE on Monday after brokerages maintained 'buy' rating on the stock post the July-September quarter (Q2FY21) results. The stock recorded its sharpest intra-day gain in the past six months. Earlier, on April 30, 2020, it had rallied 15 per cent in intra-day trade on the BSE.

At 12:00 pm, the stock was up 9 per cent at Rs 757, as compared to 0.22 per cent decline in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 8.4 million equity