Page 2 - Shriram Transport Finance Company
Fitch upgrades outlook on Shriram Transport from 'negative' to 'stable'
The rating agency affirmed "BB-" rating for Manappuram Finance's Issuer Default Ratings with "Stable" outlook
 "Fitch upgrades outlook on Shriram Transport from 'negative' to 'stable'")
Shriram City, STFC raise Rs 2,000 cr through retail fixed deposits in Jul
Shriram City Union Finance and Shriram Transport Finance Company have raised record retail fixed deposits (FDs) worth Rs 2,000 crore in July 2021
 "Shriram City, STFC raise Rs 2,000 cr through retail fixed deposits in Jul")
Shriram Transport declares second dividend of Rs 6 per share for FY21
The company has also elevated Umesh Revankar as the Vice Chairman and Managing Director with effect from April 1, 2021
 "Shriram Transport declares second dividend of Rs 6 per share for FY21")
Shriram Automall to foray into Rs 50,000 cr forward auction industry
After going through extensive tests for nearly three years, SAMIL has become the first private company in India to have its auction portal certified by the prestigious STQC directorate
 "Shriram Automall to foray into Rs 50,000 cr forward auction industry")
Shriram Transport Finance plans to raise funds via debt securities
Shriram Transport Finance Company on Tuesday said its board will meet next month to consider raising funds through the issuance of debt securities
 "Shriram Transport Finance plans to raise funds via debt securities")
S&P affirms Shriram Transport Finance Co's rating, removes from CreditWatch
The company is likely to sustain a recent improvement in its resource mobilisation, collections, and on-balance-sheet liquidity over the next 12 months, S&P said in a statement
 "S&P affirms Shriram Transport Finance Co's rating, removes from CreditWatch")
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
We expect an AUM growth of 5-6% in FY21, says STFC's Umesh Revankar
"The festive season has started well for consumer durables and other essential goods/products across the country," says Revankar
 "We expect an AUM growth of 5-6% in FY21, says STFC's Umesh Revankar")
Select stocks rally as MSCI to tweak foreign ownership limit in Indian stks
Shriram Transport Finance, Asian Paints, Nestle India, L&T, Bajaj Finance, Colgate-Palmolive India, Shree Cement, Ipca Laboratories, NTPC and Pidilite Industries were up in the range of 3% to 8%
 "Select stocks rally as MSCI to tweak foreign ownership limit in Indian stks")
Shriram Transport Finance raises Rs 100 cr via NCDs on pvt placement basis
The issue size was Rs 100 crore, and the tenure of the bonds is 560 days (18 months and 13 days)
 "Shriram Transport Finance raises Rs 100 cr via NCDs on pvt placement basis")
Stock picks by Ajit Mishra of Religare Broking: Buy SBI Life, Wipro
SBI Life's stock is holding strongly above the support zone of 200 EMA on the daily chart
 "Stock picks by Ajit Mishra of Religare Broking: Buy SBI Life, Wipro")
Out of the woods? Analysts turn bullish on NBFCs on improved liquidity
Recent steps by the government and the RBI to keep systemic liquidity and rates benign along with direct liquidity to NBFCs facing constraints, in the wake of Covid-19, have helped, analysts say
 "Out of the woods? Analysts turn bullish on NBFCs on improved liquidity")
Group promoters recommend Puneet Bhatia as nominee in Shriram Transport
Shareholders of Shriram Transport Finance Company had recently voted against Bhatia's reappointment as director
Shareholders oust TPG's Bhatia from Shriram Transport Finance board
Resolution for his reappointment got only 43.1% overall, failing to reach 50% threshold required to pass an ordinary resolution
 "Shareholders oust TPG's Bhatia from Shriram Transport Finance board")
Despite 58% rally from March low, analysts still upbeat on this stock
For the quarter ended June 2020, the company reported around 50 per cent decline in its net profit at Rs 320.06 crore.
 "Despite 58% rally from March low, analysts still upbeat on this stock")
Market Ahead, July 7: Top factors that could guide markets today
Shriram Transport Finance Company might trade actively today after the company okayed rights issue of equity shares to the promoters and promoter group to raise up to Rs 1,500 crore
 "Market Ahead, July 7: Top factors that could guide markets today")
Stock picks by Angel Broking: Buy Shriram Transport Finance, Mahanagar Gas
Recently, gas distribution companies have been in limelight
 "Stock picks by Angel Broking: Buy Shriram Transport Finance, Mahanagar Gas")
Shriram Transport Finance gains over 6% post March quarter results
The company made a provision of Rs 909.64 crore on account of the Covid-19 impact
 "Shriram Transport Finance gains over 6% post March quarter results")
Market Ahead, June 10: Top factors that could guide markets today
The SGX Nifty is indicating an open at around 10,100 mark for the broader index
 "Market Ahead, June 10: Top factors that could guide markets today")
Top stock picks by CapitalVia: Buy Shriram Transport Finance, HDFC Life
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
