Share price of Shriram Finance Ltd. declined by nearly 2% on Thursday, as investors await the company's upcoming stock split. The ex-date for the 1:5 sub-division of equity shares is set for Jan. 10, meaning investors looking to participate in the stock split must purchase shares before the end of Thursday.
The company announced the stock split in late October 2024, following a board meeting on Oct. 25. As part of the decision, one fully paid equity share with a face value of Rs 10 will be subdivided into five fully paid equity shares, with a face value of Rs 2 each.
A stock split is typically implemented by a company to increase its number of outstanding shares and enhance trading liquidity, making the stock more affordable for shareholders.
Shriram Finance earlier had also announced an interim dividend of Rs 22 per equity share, with a face value of Rs 10 for financial year 2025.
Shriram Finance Share Price Today
The scrip fell as much as 1.81% to Rs 2,846.20 apiece. It pared loss to trade 1.74% lower at Rs 2,848 apiece, as of 10:58 a.m. This compares to a 0.60% decline in the NSE Nifty 50 Index.
It has risen 31.39% in the last 12 months. Total traded volume so far in the day stood at 0.21 times its 30-day average. The relative strength index was at 38.
Out of 41 analysts tracking the company, 39 maintain a 'buy' rating, one recommends a 'hold' and one suggests 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 27.6%.
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