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Umesh Revankar, MD, Shriram Transport Finance in an interview to CNBC-TV18 said the asset under management (AUM) growth has been around 18 percent and is expected to be around 18-20 percent for the next few quarters.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have - Wipro, Puravankara, Shriram Transport Finance, HDIL, Zuari Agro Chemicals, Madras Fertilizers, NR Agarwal Industries and MMTC.
Shriram Transport Finance Company (STFC) has transferred 1.663 crore equity shares of Shriram Automall India (SAMIL) to MXC Solutions India Private Ltd (MXC) at ₹94.03 a share, aggregating to ₹156.37 crore. As a result, MXC has become majority shareholder in SAMIL, and SAMIL has ceased to be a subsidiary of Shriram Transport Finance Company. Shares of the company will remain in focus, as investors will closely monitor the development.
Mumbai: Mahindra and Mahindra Financial Services Ltd (Mahindra Finance) is in talks to raise as much as $300 million via masala bonds, according to two people directly aware of the company’s discussions with potential lenders. (15-0)
CarTrade, a private equity-backed firm, is set to acquire a majority stake in Shriram Automall (SAMIL), which sells used trucks, buses and other vehicles, from Shriram Transport Finance Corporation (STFC) for Rs 1.56 billion. An agreement was signed on this between STFC, Shriram Automall India, and MXC Solutions, which operates CarTrade.com and Carwale.com. After the acquisition MXC Solutions will be the majority shareholder.
Union Budget 2018-19 would be the toughest one for the BJP government so far in its current tenure. This is because it would be a tight-rope walk for the government in terms of garnering higher revenue collections amid challenges faced by mid and small corporates post GST. The short-term slowdown caused by GST and demonetisation are other factors. Meanwhile, rising crude and commodity prices beyond a particular level have already worsened the macroeconomic scenario in recent times. (8-0)
Terming India’s fiscal situation as serious, corporates and experts have called for prudence to cut deficit without reducing spending on the infrastructure sector. At a time when 40 per cent of the government’s revenues were going towards interest payments, it was important to increase private sector participation in infrastructure to keep costs under check.
Mumbai: IDFC Bank Ltd may have finally found a way to shed its infrastructure finance company image and become a people’s bank—by merging Capital First Ltd with itself. The merger could be a way for the lender to build its retail book, something it has been unable to do in the two-and-a-half years since becoming a bank. (7-0)
Shriram Transport Finance (STFC) is the pioneer and largest player in the used CV financing space and is a part of the ‘Shriram’ conglomerate that has a significant presence in varied financial services. STFC was incorporated in 1979 and started financing the much-neglected small truck-owners. Currently, it has an AUM of ₹85,463 crore, growing 13.2 per cent y-o-y (about 87 per cent is derived from used vehicles) as on Q2FY18.
The December quarter earnings season may hold little cheer for banks, as the steep drop in bond prices is expected to add to the existing bad loan problem. (11-0)
Shriram Transport Finance Company on Friday said it has raised Rs 400 crore by issuing bonds on private placement basis. "The Allotment Committee-NCDs of the company in its meeting held today, approved and allotted 4,000 secured redeemable rated listed non-convertible debentures of face value of Rs 10 lakh each, aggregating to Rs 400 crore on private placement basis," the company said in a regulatory filing.
Shriram Transport Finance Company today said it has raised Rs 400 crore by issuing bonds on private placement basis. “The Allotment Committee-NCDs of the company in its meeting held today, approved and allotted 4,000 secured redeemable rated listed non-convertible debentures of face value of Rs 10 lakh each, aggregating to Rs 400 crore on private placement basis,” the company said in a regulatory filing.
Shriram Transport Finance Company today said it has raised Rs 400 crore by issuing bonds on private placement basis.
Shriram Transport Finance Company has informed the stock exchanges that following the meeting of the company’s Allotment Committee on Thursday for the purpose of raising funds, it approved and allotted 150 unsecured, redeemable, rated, non-convertible, subordinated bonds of face value ₹10 lakh each, aggregating to ₹15 crore on private placement basis. Shares of the company closed the day at ₹1,457.
The Shriram Transport Finance Corporation stock has been buzzing after the hangover of the IDFC deal has been done with. Auto companies have seen strong commercial vehicle sales by manufacturers & now there are expectations of a pick-up in the rural economy.