Rudra Investment Stock Tips Expert says The stock of Mumbai's truck-financing firm Shriram Transport Finance Company got a good boost on Thursday after a major downturn on Thursday. There was a surge of over 9% in the stock on BSE. Indeed, Deutsche Bank has retained the Bay Ratings for the share, which has the advantage of it. During the business, the stock rose 9.18 percent to reach the price of Rs 1,250, which is high of intra-day. However, at the end of the trading, the stock closed at a price of Rs 1,151.90, up 0.62 per cent.
Target price decreased
However, Deutsche Bank has reduced the target price of shares of Shriram Transport Finance Company. The bank has reduced the target price from Rs 1800 to Rs 1700.
Earlier on Tuesday, the stock of Shriram Transport Finance was witnessed heavy sell-out on Wednesday. Shriram Transport Finance, the unlisted company of Sriram Group, was given a guaranteed amount of Rs 870 crores on NCD, with the NCDD falling by 20 per cent.
Corporate guarantees in June 2015
Stock Tips Expert says, In an explanation to the BSE, the company said, "Shriram Transport Finance Company had given the corporate guarantee in connection with the Non-Consortium Redeemable Divisions issued by SVL in June 2015. Apart from this corporate guarantee, STFC has not raised any new guarantee for SVL. With this, the company said, corporate guarantee on SVL's mortgage holders is secure.
For one year in June 2019, the NCD has fallen due to the match. Resource of Loan Payment is available across SVL's Promoters / Promoters Group and its Associates.
Move on such a stock
On Thursday, shares started with a rise. With the company clearing the SDC on Thursday, the stock rose 9.18 per cent to Rs 1,250 on Thursday. This is the high level of intra-day. At the same time, the low level of shares was Rs 1140 during the business.
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