What's cooking for Shriram City Union Finance?; up by 7%

Even as the broader market BSE Sensex is trading flat on Monday, Shriram City Union Finance is trading firm on bourses, trading up by almost 7 percent on an intra day basis at the time of filing this report. At Rs. 1650 the stock is up by almost Rs.105 per share on an intra day basis. Shriram City Union is top gainer in the mid cap index (BSE Midcap) while contributing 7 points to the total gain of 20 points in the index. BSE Midcap is trading lacklustre on Monday up by only 0.18 percent. 

According to its filing at the stock exchanges, the company will be making some forward looking statements and there will be an investor conference scheduled on June 1, 2016.Two major institutional brokers  i.e Morgan Stanley and Bakliwala & Karani Securities India Pvt. Ltd., will be attendees in the Investor  conference giving hopes that some investors might be looking at investing in Shriram City Union Finance. Investor and traders would be keen to understand the forward looking statement made by the company and the stock is trading firm with a positive bias based on expectations from the investor conference.

The stock has been struggling on bourses with its 1 year returns being reported at negative 7 percent. The stock has however gained over 12.33 percent over 3 months. At current market price of Rs. 1650 per share the stock is trading above its 200 days simple moving average indicating bullishness in the stock. The stock with a market capitalisation of Rs. 10,884.38 crores is trading at a P/E multiple of 20.54. The 52 week high for the stock is Rs. 1,899 and the 52 week low for the stock is at Rs. 1,332.