DCM Shriram defies market mood, hits new high; stock up 65% in a month

On June 29, 2021, rating agency ICRA had upgraded term loan and fund based facilities of DCM Shriram to ICRA AA+ from ICRA AA with a stable outlook

Shares of DCM Shriram hit a new high of Rs 1,199 on the BSE after they rallied 18 per cent on the back of heavy volumes in intra-day trade on Monday in an otherwise weak market. At 01:11 pm, the stock was trading 14 per cent higher at Rs 1,157 as compared to a 1.3 per cent decline in the S&P BSE Sensex. The trading volumes on the counter jumped three-fold, with a combined 2.34 million equity shares having changed hands on the NSE and BSE.

In the past one month, the stock of DCM Shriram has zoomed 65 per cent,