Shriram Finance shares drop 0.5% as Sensex falls

Shares of Shriram Finance Ltd. traded 0.5 per cent down at Rs 3601.

0 at 12:02PM (IST) on Monday, even as BSE benchmark Sensex dropped 963.64 points to 84608.21.



The stock had closed at Rs 3619.2 in the previous session. The stock quoted a 52-week high price of Rs 3652.

15 and 52-week low of Rs 1760.9, respectively. As per BSE data, total traded volume on the counter till 12:02PM (IST) stood at 3698 shares with a turnover of Rs 1.

33 crore. At the current price, the stock traded at 17.64 times its trailing 12-month EPS of Rs 204.

41 per share and 1.81 times its price-to-book value, BSE data showed. A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.69.

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18 per cent. Technicals On the technical charts, the relative strength index (RSI) of the stock stood at 69.8.

The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.

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