Shriram Transport Finance hits 8-month high; stock soars 56% in November

Shriram Transport reported a better-than-expected net profit in Q2FY21 at Rs 685 crore, on the back of net interest income of Rs 2,022 crore and lower-than-estimated provisioning

Shares of Shriram Transport Finance hit an eight-month high of Rs 1,079, up 4 per cent on the BSE on Wednesday on expectation of further improvement in collection. The stock was trading at its highest level since March 6, 2020. In comparison, the S&P BSE Sensex was down 0.33 per cent at 44,376 points, at 01:33 pm.

Shriram Transport is the largest asset financing non-banking finance company (NBFC) in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets. Auto companies have reported