Shriram City Union Finance gains on bargain hunting

Shriram City Union Finance rose 2.75% to Rs 1,565.75 at 15:08 IST on BSE on bargain hunting after the stock fell 7.92% in the preceding five trading sessions to Rs 1,523.80 on 29 December 2015, from a recent high of Rs 1,654.95 on 21 December 2015.

Meanwhile, the BSE Sensex was down 111.22 points, or 0.43%, to 25,968.26.

On BSE, so far 251 shares were traded in the counter, compared with an average volume of 313 shares in the past one quarter.

The stock hit a high of Rs 1,575.85 and a low of Rs 1,528 so far during the day. The stock hit a record high of Rs 2,195.95 on 27 January 2015. The stock hit a 52-week low of Rs 1,410 on 25 August 2015.

The stock had underperformed the market over the past one month till 29 December 2015, sliding 12.52% compared with 0.19% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 12.18% as against Sensex's 1.17% rise.

The large-cap company has an equity capital of Rs 65.92 crore. Face value per share is Rs 10.

Net profit of Shriram City Union Finance rose 10.52% to Rs 152.31 crore on 8.9% rise in operating income to Rs 945.96 crore in Q2 September 2015 over Q2 September 2014.

Shriram City Union Finance is India's premier financial services company specializing in retail finance. It 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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