Shriram Transport Finance Company rose 4.78% to Rs 645.10 after US-based global investment management firm T Rowe Price increased its stake in the Indian firm to 5.36% on 3 June 2020 from 4.77% held earlier.
On 3 June 2020, T. Rowe Price Associates purchased 13.53 lakh equity shares or 0.59% stake in Shriram Transport Finance Company. The disclosure was made on Saturday, 6 June 2020.
On the technical front, Shriram Transport Finance Company's RSI (relative strength index) stood at 52.89. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading between its 50-day moving average (DMA) placed at 635.78 and its 200-day moving average (DMA) placed at 977.92.
The NBFC's consolidated net profit soared 38.15% to Rs 882.19 crore on 7.39% increase in net sales to Rs 4,286.04 crore in Q3 December 2019 over Q3 December 2018.
Shriram Transport Finance Company, the flagship company of the Shriram group, has significant presence in consumer finance, life insurance, general insurance, stock broking and distribution businesses.
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