News for Shriram City Union Finance Limited (SHRIRAMCIT.NS)

With over a 92 percent rise in the share price over the past year, Shriram Finance is the top contender to replace UPL in the benchmark Nifty in the March review

Shriram Finance aims to be a multi-asset company, executive vice-chairman Umesh Revankar told Moneycontrol last month.

He holds a degree in Bachelor of Commerce. He joined the company in June 1991 as an executive trainee.

Nuvama Institutional Equities has upgraded its rating on Shriram Finance from 'hold' to 'buy' and raised the target price to Rs 2,145

ICICI Direct is bullish on Shriram Finance recommended buy rating on the stock with a target price of Rs 2250 in its research report dated July 21, 2023.

Piramal Enterprises offloaded 3,12,21,449 shares, amounting to an 8.34% stake in Shriram Finance.

FTSE Russell, the index aggregator, has increased the investability weightages for Shriram Finance and HDFC Asset Management Company in the FTSE All World index after shares were sold by institutional investors in both companies. The investability weight of Shriram Finance has increased to 74.63% from 66.30%, while HDFC Asset Management's weight has increased to 47.10% from 36.89%. The change in the weighting follows the sale of shares by Piramal Enterprises in Shriram Finance and Abrdn Investment Management in HDFC AMC.

Coming to the NSE indices, the stock is currently a part of NSE 200. To get entry into NSE 100, the stock has to be among top 90 companies in terms of average full market capitalization

Shriram Finance shares climbed 10 per cent to Rs 1,715.35. As per NSE data, 3,12,21,449 Shriram Finance shares changed hands in block deals worth Rs 4,823.71 crore.

According to media reports, Piramal Enterprises was planning to sell its entire 8.34 per cent stake in Shriram Finance via block deals on Wednesday.

Till 09:48 am; around 9.98 million shares, which represented 2.66 per cent of total equity of Shriram Finance have changed hands on the BSE, data shows

While buyers and sellers were not known immediately, it was earlier reported that private equity player Apax Partners' subsidiary Dynasty Acquisition is likely to sell its stake

Vakrangee, GM Breweries, GG Automotive Gears and Sri Krishna Constructions (India) are among the companies that will announce their corporate earnings for the June 2022 quarter today.

As per the pivot charts, the key support level for the Nifty is placed at 16,472, followed by 16,375. If the index moves up, the key resistance levels to watch out for are 16,639 and 16,708.

Based on the open interest future percentage, here are 133 stocks including NTPC, Oracle Financial Services Software, Escorts, Indus Towers, and United Breweries, in which short-covering was seen.

Trends on SGX Nifty indicate a negative opening for the broader index in India with a loss of 36 points

Based on the open interest future percentage, there were 84 stocks in which short-covering was seen including Kotak Mahindra Bank, UltraTech Cement, Bosch, Coforge, and JK Cement.

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