InvestorQ : Why has Shriram Transport been seeing good buying interest in the last few days?
Arti Chavan made post

Why has Shriram Transport been seeing good buying interest in the last few days?

Answer
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3 months ago


Shriram Transport has seen a lot of buyer interest on hopes that the CV segment will pick up as the economy opens up again. Recently, global investment fund, T Rowe Price, increased its stake in Shriram Transport from 4.77% to 5.36%. Ajay Piramal, of the Piramal group, owns 20% stake in Shriram Capital, which in turn holds 26.23% in STFC. Shriram Transport is looking to aggressively raise funds to create a war chest and also to support growth. It is planning to raise up to Rs.35,000 crore via bond issuances. Even the numbers for the Mar-20 quarter were extremely flattering with net profits higher by 38% at Rs.882 crore even total sales revenues grew by 7.4% and Rs.4286 crore.