Shares of Shriram Finance Limited (NSE: SHRIRAMFIN) rose by 3.26% to ₹3,364.75 as of 2:12 PM today, following the company’s announcement regarding an upcoming board meeting scheduled for October 25, 2024.
Key Highlights:
- Board Meeting on October 25, 2024: Shriram Finance’s board will consider multiple important resolutions, including the approval of the company’s Q2 FY25 financial results and the declaration of an interim dividend for the financial year 2024-25.
- Share Split Proposal: The board will also discuss a proposal to alter the share capital structure, possibly considering a share split of its equity shares, subject to the approval of shareholders.
- Potential Fundraising: The board will deliberate on resource mobilization via debt securities, such as redeemable non-convertible debentures (NCDs) or subordinated debentures, for the company’s business needs.
Stock Movement:
- Opening price: ₹3,187.75
- Day’s high: ₹3,365.75
- Day’s low: ₹3,145.75
- Previous close: ₹3,258.60
Investors have shown positive sentiment in light of the potential corporate actions, with the stock rising over 3% in intraday trading. The news of a potential dividend and share split has further fueled interest in the stock.
Disclaimer: The information provided here is for informational purposes only and should not be construed as investment advice.
