Shares of non banking financial company Shriram finance down more than 8% in opening trade: Stock down more than 8% and trading and Rs 601 and stock made low of Rs 597.61 in intraday trade. Its biggest intraday fall in last 3 years amid following Q4FY24 results 

Q4 Results 

Shriram finance down more than 8% Following its Q4 Results; on friday 25th April company announced its Q4 results in which company's net profit Rises 10% YoY to Rs 2,139 Crore and NII (net interest Income) Increased by 13% to Rs 6,051 Crore an against Rs 5,336 crore and total income of non banking financial company in q4 stood at Rs 11,460 crore 

In terms of asset quality Gross NPA of Company stood at 4.55% and Net NPA stood at 2.64% 

What Is Negative in results ?

EPS cut by 4-5% due to rising credit cost so stock likely to Underperform for short term and Stock is trading at all time so profit booking added more fuel  

Brokerages View on Shriram fin Post Q4 Results 

Kotak Institution Gives Buy rating with target price Rs 750

Macquarie Gives outperform rating Target Price Rs 800

CLSA gives Outperform rating but cut target price to Rs 670

HSBC maintain Buy rating but Cut target Price to Rs 740

With Market cap of Rs 1.13 lkh crore Shares of shriram finance down 8% on 28th April and trading at Rs 601 and 52week high of Stock is around Rs 730.45 and 52 week low is around Rs 438.60 

Currently Shriram finance trading at PE of 12.11 and dividend yield of 1.50% 

In last one year shares of shriram finance up 21% following RBIs Boost and buying in financial stocks