Shriram Finance market capitalisation crosses ₹1 lakh crore mark; stock jumps 4%

Since becoming a Nifty 50 constituent in March this year, Shriram Finance stock has risen 13 per cent. Overall, the shares have gained 30 per cent in 2024.

Vaamanaa Sethi
First Published13 Jun 2024, 04:10 PM IST
Shriram Finance surpassed Torrent Pharmaceuticals and Shree Cement in market capitalisation ranking on June 13.
Shriram Finance surpassed Torrent Pharmaceuticals and Shree Cement in market capitalisation ranking on June 13.(Pixabay)

The stock price of Shriram Finance Ltd, the latest addition to the Nifty 50 index, surged over 4 per cent on Thursday to reach an all-time high of 2,679. This milestone pushed the company's overall market capitalisation past the 1 lakh crore mark.

The company surpassed Torrent Pharmaceuticals and Shree Cement in market capitalisation ranking.

Since becoming a Nifty 50 constituent on March 28, 2024, the stock has risen 13 per cent. Overall, the shares have gained 30 per cent in 2024. The stock is also on a seven-day winning streak, during which it has climbed 18 per cent, recovering all losses from the June 4 trading session.

Also read: Saksoft share price jumps 17% as company acquires Augmento Labs

Shriram Finance had a total market capitalisation of 96,789.2 crore at the time of publishing this report, according to BSE.

Shriram Finance shares are currently trading 4.3 per cent higher at 2,680, making it one of the best-performing stocks on the Nifty since the decline observed on June 4, the day the Lok Sabha election results were declared.

The company reported consolidated sales of 9,918.3 crore for the quarter ending March 31, 2024, reflecting a 6.58 per cent increase from the previous quarter's 9,305.75 crore and a 24.29 per cent rise from the year-ago quarter's 7,979.75 crore.

The net profit for the latest quarter was 2,008.8 crore, marking a 56.3 per cent increase compared to the same quarter a year earlier. 

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News in Numbers

Numbers that help you understand news better
$5 M

394,000

$112 B

12.1%

₹133.50 Cr

₹12,300 Cr

$136 M

First Published:13 Jun 2024, 04:10 PM IST
HomeMarketsStock MarketsShriram Finance market capitalisation crosses ₹1 lakh crore mark; stock jumps 4%

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