Q4FY19 result highlights
Valuation and view
With weak OEM sales and rising cost of funds, we expect FY20 to be a challenging year. Likely merger of STFC and SCUF remains an overhang. Given cheap valuations we remain Neutral. Cut TP to Rs1,110 (1.2x PBV FY21) on uncertain business outlook and merger overhang.
Shriram Transport Finance is a public company domiciled in India. Co. provides finance for commercial vehicles, construction equipments and other loans. Co. also provides financial services viz., commercial vehicle financing business, consumer finance, life and general insurance, stock broking, chit funds and distribution of financial products such as life and general insurance products and units of mutual funds. Apart from these financial services, Co. is also in non-financial services business such as property development, engineering projects and information technology.
IDFC Securities Ltd., a subsidiary of the Infrastructure Development Finance Company (IDFC) wherein the Government of India holds a 20% interest, is India's leading equities broker catering to most of the prominent financial institutions, both foreign and domestic investing in Indian equities. A research team of experienced and dedicated experts ensures the flow of critically investigated stock ideas and portfolio strategies for our clients. Our coverage spans across various growth sectors such as agriculture, automobiles, Consumer Goods, Technology, Healthcare, Infrastructure, Media, Power, Real Estate, Telecom, Capital Goods, Logistics, Cement amongst other sectors. Our clients value us for our strong research-led investment ideas, superior client servicing track record and exceptional execution skills.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.