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SHRIRAM TRANSPORT FINANCE COMPANY LTD.

NSE : SRTRANSFINBSE : 511218ISIN CODE : INE721A01013Industry : Finance - NBFCHouse : Shriram Transport
BSE1067.25-3.25 (-0.3 %)
PREV CLOSE ( ) 1070.50
OPEN PRICE ( ) 1072.00
BID PRICE (QTY) 1067.20 (49)
OFFER PRICE (QTY) 1068.60 (22)
VOLUME 18503
TODAY'S LOW / HIGH ( )1058.00 1079.60
52 WK LOW / HIGH ( )909.25 1296.75
NSE1061.00-9.25 (-0.86 %)
PREV CLOSE( ) 1070.25
OPEN PRICE ( ) 1062.10
BID PRICE (QTY) 1060.50 (44)
OFFER PRICE (QTY) 1061.00 (998)
VOLUME 356517
TODAY'S LOW / HIGH( ) 1058.10 1078.75
52 WK LOW / HIGH ( )909.05 1297
AnalystDate30 Jul 2019
BSECode511218
BlogURLNA
NoteDescriptionThe growth has remained muted due to election & weakening in the demand of new CV. Nonetheless sturdy pricing power of SRTRANSFIN in the rural areas has helped it to sustain spreads amid liquidity stress. Asset quality has remained robust with temporary hiccup due to election period; management has re-iterated credit cost guidance of 2% for FY20. However due to slowdown in the infrastructure & construction activity management has revised it’s the loan book guidance to 14-16% from 18-20% rate. We expects margin to remain under pressure due high cost of borrowings and maintenance of buffer liquid asset. We remain cautious on the growth and have decreased the estimate by 10% for FY20. We value the stock at 1.2x for FY21 at Rs 1125. We downgrade the stock to HOLD.
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