Key Highlights
- Newsroom ReviewedShares of Shriram Finance Ltd extended their bullish run for the second straight session on Monday, Dec.
- 22 to hit a fresh record high after announcing the stake acquisition deal worth nearly Rs 40,000 crore by Japanese MUFG Bank.
- India's second-largest retail non-banking financial company has also received target price hikes by brokerages on the landmark MUFG deal.
- Nomura has maintained its "buy" rating and raised its price target on the stock to Rs 1,140. Out of 37 analysts tracking the company, 35 maintain a 'buy' rating, three recommend a 'hold,' and two suggest 'sell,' according to Bloomberg data.
- The average 12-month consensus price target stands at Rs 938.25 indicating an upside of 2.2%. Japan’s Mitsubishi UFJ Financial Group (MUFG) will invest nearly Rs 39,718 crore or $4.5 billion for a 20% stake in Shriram Finance Ltd, marking the largest strategic investment by a foreign lender in India's NBFC sector.