The most recent entry to the Nifty 50 index, Shriram Finance Ltd., increased by more than 4% on Thursday to hit a record high of ₹2,679. With this achievement, the company's total market value surpassed ₹1 lakh crore. In terms of market capitalization, the business outranked Shree Cement and Torrent Pharmaceuticals.
As of March 28, 2024, when the stock was included to the Nifty 50, it has increased 13%. In 2024, shares had increased by 30% overall. In addition, the stock has gained 18% over the last seven days, recouping all of its losses from the June 4 trading session.
Based on BSE data, Shriram Finance Ltd.'s total market capitalization was ₹96,789.2 crore at the time of this research. As of right now, shares of Shriram Finance are up 4.3% at ₹2,680, making it one of the Nifty's best-performing companies since the drop on the day of the Lok Sabha election results.
For the quarter ended March 31, 2024, the firm recorded consolidated revenues of ₹9,918.3 crore, up 6.58 percent from the previous quarter's ₹9,305.75 crore and 24.29 percent from the ₹7,979.75 crore quarter last year. In comparison to the same quarter last year, the most recent quarter's net profit increased by 56.3% to ₹2,008.8 crore.
