Shriram City Union Finance surged 4.39% to Rs 1235 at 14:15 IST on BSE after consolidated net profit rose 20.49% to Rs 151.36 crore on 0.85% decline in total income to Rs 833.94 crore in Q4 March 2014 over Q4 March 2013.
The Q4 result was announced after market hours on Wednesday, 30 April 2014. The stock market was closed on Thursday, 1 May 2014, on account of May Day.
Meanwhile, the S&P BSE Sensex was almost unchanged at 22,417.84.
On BSE, so far 2,659 shares were traded in the counter as against average daily volume of 24,778 shares in the past one quarter.
The stock hit a high of Rs 1239.90 and a low of Rs 1210 so far during the day. The stock had hit a record high of Rs 1248.80 on 3 April 2014. The stock had hit a 52-week low of Rs 850.05 on 8 August 2013.
The stock had outperformed the market over the past one month till 30 April 2014, surging 10.43% compared with the Sensex's 0.35% rise. The scrip had also outperformed the market in past one quarter, jumping 21.89% as against Sensex's 9.36% rise.
The mid-cap company has equity capital of Rs 59.29 crore. Face value per share is Rs 10.
Shriram City Union Finance's consolidated net profit rose 18.4% to Rs 532.16 crore on 5.76% growth in total income to Rs 3278.72 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
Shriram City Union Finance's board of directors at its meeting held on Wednesday, 30 April 2014, recommended final dividend of Rs 6 per share for FY 2014, subject to the approval of the shareholders at the ensuing Annual General Meeting of the company.
Shriram City Union Finance's board at its meeting held on Wednesday, 30 April 2014, subject to the approval of shareholders, approved issue of upto 65.79 lakh equity shares of Rs 10 each to Piramal Enterprises for cash on Preferential basis at Rs 1,200 per share (including a premium of Rs 1,190 per equity share) which is the price higher than the price determined in accordance with the Regulation 76(1) of Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, the relevant date for this purpose being 30 April 2014.
Further, it was decided to convene an Extraordinary General Meeting to obtain the approval of shareholders with regard to the above on 30 May 2014, Shriram City Union Finance said.
As a deposit-accepting non-banking financial company (NBFC), Shriram City Union Finance is India's premier financial services company specializing in retail finance. The company has a comprehensive range of offerings comprising finance for two wheelers and three wheelers, four wheeler finance (both new and pre-owned passenger and commercial vehicles), personal loans, small business loans, and loan against gold.
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