ICICI Securities, a leading financial services company, has issued a buy rating on Shriram Finance stock and set a target price of Rs 2930. This recommendation comes after Shriram Finance announced its fourth-quarter results, which showed a significant increase in net interest income. The company reported a consolidated net interest income of Rs 5543.47 crore, a growth of 22.27% compared to the previous quarter. Shriram Finance, a non-banking financial company, has been operating in the market since 1979 and has a market capitalization of Rs 91203.04 Crore.

Positive Q4 Results and Dividend Announcement

The Q4 results of Shriram Finance have been encouraging, with the company witnessing a 24.54% increase in its topline. The profit has also seen a significant rise, contributing to the overall positive financial performance. As a result of these strong results, Shriram Finance has announced a final dividend of Rs 15 per share to eligible shareholders. This dividend payout is expected to be made before August 28.

Impact on Stock and Recommendations by Analysts

The announcement of Shriram Finance’s Q4 results and the subsequent dividend declaration have had a positive impact on the company’s stock. The shares rebounded 7% from the day’s low after the results were announced. Analysts, including ICICI Securities and Motilal Oswal, have recommended buying Shriram Finance stock. ICICI Securities has set a target price of Rs 2930, while Motilal Oswal has set a slightly lower target of Rs 2900.

Continued Growth and Financial Performance

Shriram Finance’s Q4 results showcase the company’s strong financial performance, with a 49% rise in net profit and a 20% increase in net interest income compared to the previous year. This growth further solidifies Shriram Finance’s position in the non-banking financial sector and highlights its ability to adapt to market changes.

• ICICI Securities has issued a buy rating on Shriram Finance stock with a target price of Rs 2930.
• The consolidated net interest income for the fourth quarter has risen by 22.27%.
• Shriram Finance reported a 24.54% increase in its topline and a 49% rise in net profit.
• The company announced a final dividend of Rs 15 per share for eligible shareholders.
• The stock rebounded 7% from the day’s low after the Q4 results were announced.
• Other analysts, like Motilal Oswal, also recommend buying Shriram Finance stock with a target price of Rs 2900.

“The positive Q4 results and the announcement of a dividend make Shriram Finance a favorable investment option.” – ICICI Securities