Shriram Finance Share Price Drops As Stock Trades Ex-Split

Shares of Shriram Finance Ltd. fell by over 4% on Friday as the stock traded ex-split. The ex-date for the 1:5 sub-division of equity shares was January 10, meaning investors looking to benefit from the split needed to purchase shares before the market closed on Thursday.

The scrip fell as much as 4.69% to Rs 535.60 apiece. It pared losses to trade 4.65% lower at Rs 535.85 apiece, as of 10:04 a.m. This compares to a 0.62% decline in the NSE Nifty 50 Index.

It has risen 24.62% in the last 12 months. Total traded volume so far in the day stood at 0.35 times its 30-day average. The relative strength index was at 30.

Out of 41 analysts tracking the company, 39 maintain a 'buy' rating, one recommends a 'hold,' and one suggests 'sell,' according to Bloomberg data.