Shriram Transport Finance extends gain on reports of merger

The stock was up 7% at Rs 1,218, extending its 3% gain on the BSE on Monday, after the company said it continuously evaluates various opportunities for enhancing shareholders' value.

Shares of Shriram Transport Finance Company were up by 7% at Rs 1,218 per share, extending their 3% gain on the BSE on Monday, after the company said that it continuously evaluates various opportunities for enhancing shareholders’ value.

The company made a clarification on the Business Standard new report on Shriram group may merge two firms.

Shriram group, the Rs 1,000-billion financial conglomerate, may consider merging two of its listed non-banking finance companies — Shriram Transport Finance Company (STFC) and Shriram City Union Finance (SCUF) — to pave the way for listing Shriram Capital, the holding company of