Shriram Transport Finance (STFC) shares plunged nearly 7 percent to Rs 1,011 in Monday’s session after Piramal Enterprises sold its entire stake in the company via multiple block deals.
Today Piramal Enterprises in a BSE filing said, “we wish to inform you that the company has sold its entire direct investment of 9.96 percent in the fully paid-up share capital of Shriram Transport Finance Company to third-party investors on the floor of the stock exchange.”
Around 2:09 pm, shares of Shriram Transport Finance traded 6.20 percent down at Rs 1,020.50 while at 9:44 am Piramal Enterprises were 0.45 percent up at Rs 2,077.70.
Shriram Transport had reported a flat growth with net profit down 3.4 percent during the fourth quarter ended March 2018.
Gross NPA was at 9.15 percent while net NPA rose to 2.83 percent in the quarter up from 8.16 percent and 2.65 percent a year ago.
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