Shares of Shriram Finance surged 9 per cent to Rs 1,960.20 on the BSE in Friday’s intra-day trade after the company reported healthy performance for the July-September quarter (Q2FY24), with total Assets under Management (AUM) up 19.6 per cent year-on-year (YoY) at Rs 2.02 lakh crore. The stock of non banking financial company (NBFC) had hit a 52-week high of Rs 1,974.95 on September 12, 2023.
AUM stood at Rs 1.69 lakh crore at the end of Q2FY23 and Rs 1.93 lakh crore as on Q1FY24. The growth in auto segment remained steady while non-auto segments (MSME, 2-wheeler and
Shriram Finance surges 9% on healthy September quarter results
Shriram Finance's reported NIM expanded ~60bp QoQ driven by lower negative carry because of lower liquidity on the balance sheet, and increase in high-yielding products in the mix.
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