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UBS has adjusted its price target for Shriram Finance Ltd to INR700 from INR760 while maintaining a Buy rating, following the company's steady third-quarter performance. Despite an 18.8% year-over-year growth in Assets Under Management and a 14% increase in Net Interest Income, results slightly missed UBS's expectations. The firm anticipates stable asset quality trends and strong rural demand, although it has reduced growth projections and increased credit cost estimates, leading to a 2-3% cut in Earnings Per Share forecasts.
Shriram Finance is set to report its Q2 results on October 25, with expectations of an 18% year-on-year growth in net interest income (NII) to Rs 5,430 crore and an 18.6% rise in profit to Rs 2,077 crore, driven by strong asset under management (AUM) growth and robust loan disbursements. Following this positive outlook, the company's shares surged 23% during the July-September period.
Shriram Finance Ltd.
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ubs adjusts shriram finance target to 700 amid strong rural demand
10:36 27.01.2025
Shriram Finance expects strong Q2 growth in net interest income and profit
11:40 23.10.2024
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