Shriram City Union Finance

Valuation targets, though, are close to current price; potential selling by large non-promoter shareholders also an overhang

Says Rs 1,213 cr being spent in violation of rules and Rs 11 cr diverted to time deposits to earn interest income; calls for action against officers responsible

SCL, the existing holding company of the Group, and Shriram City Union Finance will merge shortly with Shriram Transport Finance

The group is preparing to announce the birth of the new entity called Shriram Finance by the third week of November

Good demand for used vehicles in rural market, says Umesh Revankar in interview

Shriram City Union Finance (Shriram City) on Friday reported a 23 per cent rise in its consolidated net profit at Rs 383 crore for the quarter ended September 2022 on the back of increased demand as economic activity improved. The company's net profit in the quarter ended September 2021 stood at Rs 301 crore. The income from operations rose by 26.2 per cent to Rs 2,155 crore in July-September period of 2022-23 as against Rs 1,708 crore in the same quarter of 2021-22, the company said in a release. Net interest income -- interest earned minus expended -- grew by nearly 30 per cent to Rs 1,327 crore against Rs 1,022 crore. The non-banking finance company mainly caters to small enterprises. It is among the largest two-wheeler financiers in the country. On a consolidated basis, disbursements rose to the highest ever Rs 9,069 crore, up 28.5 per cent year-on-year, backed by the improving economic activity and strong revival in small enterprise finance, robust demand for gold loans, ...

Group conducting trial run at branches, preparing super app for merged entity called Shriram Finance

Demand for consumer goods, automobiles, white goods has been holding momentum, which should translate into good credit off take for consumer financiers this festive season, analysts said

To slash excess liquidity from a 6-month to 3-month level

Assets Under Management (AUM) increased by 21 per cent to Rs 40,414 crore as against Rs 33,509 crore during the same time last financial year

Contrary to popular belief, adoption of electric two-wheelers is on an uptrend in semi-urban and rural areas thanks to subsidised power that helps users cut the running cost of a vehicle

Shriram Transport Finance, which is part of the Shriram Group, now awaits approval from Shriram City Union Finance shareholders and creditors and NCLT, CCI and Irdai

It will be 'nimble-footed' as a NBFC and not seek a banking license, says Umesh Revankar

Stocks to watch today: SBI and IDBI Bank have raised their interest rates on retail term deposits, subject to different tenors; LIC hiked stake in Hero MotoCorp to 11.2 per cent from 9.1 per cent.

Shriram City Union Finance will focus on personal, gold and small business loans to achieve its 18 per cent growth in AUM in the current fiscal year amid a slowdown in demand for two-wheelers due to shortage of components and other factors, a top company executive said. Noting that the demand in the economy has not yet fully recovered, while rural and semi-urban areas have been doing better now, Y S Chakravarti, MD & CEO, said majority of the company's business comes from semi-urban and rural markets and anything good for the rural economy will help the company's business. "Our focus will be on personal loan, gold loan and small business loans. In terms of economic recovery, we have not recovered fully. Urban areas are still struggling, to some extent the rural economy has picked up probably because, one the harvest has been good and in current year also there is good rainfall prediction,"Chakravarti told PTI in an interaction. He said the crop harvests and also the prices are ...

Plans aggressive expansion in north India, where it has already launched its product in 70 branches

Shriram City Union Finance (Shriram City), India's largest two-wheeler financer, has reported a consolidated net profit of Rs 322 crore

Shriram City Union Finance on Friday reported 6 per cent rise in consolidated net profit at Rs 322 crore for the quarter ended December 2021

Shadow lender Shriram City Union Finance Ltd. is building a so-called super app to offer various financial products on a single digital platform

Shriram City Union Finance on Wednesday reported a 9.8 per cent increase in its consolidated net profit to Rs 302 crore in the second quarter ended September