Shriram City Union Finance scales record high after good Q2 outcome

Shriram City Union Finance surged 6.36% to Rs 2,478.60 at 10:05 IST on BSE after net profit rose 34.26% to Rs 204.49 crore on 17.93% rise in total income to Rs 1115.58 crore in Q2 September 2016 over Q2 September 2015.

The announcement was made after market hours yesterday, 27 October 2016.

Meanwhile, the S&P BSE Sensex was down 17.04 points, or 0.06%, to 27,898.86

On BSE, so far 8,101 shares were traded in the counter, compared with an average volume of 3,337 shares in the past one quarter. The stock hit a high of Rs 2,545.80 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 2,340 so far during the day. The stock hit a 52-week low of Rs 1,336.75 on 18 January 2016. The stock had outperformed the market over the past 30 days till 27 October 2016, rising 6.69% compared with 1.33% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.26% as against Sensex's 0.48% decline.

The large-cap company has an equity capital of Rs 65.94 crore. Face value per share is Rs 10.

Shriram City Union Finance's assets under management (AUM) rose 17.8% to Rs 21390 crore in Q2 September 2016 over Q2 September 2015. Disbursements rose 23% to Rs 5567 crore in Q2 September 2016 over Q2 September 2015. Net interest income rose 22.3% to Rs 735 crore in Q2 September 2016 over Q2 September 2015.

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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