Shares of Shriram City Union Finance Ltd. fell nearly 8%, the steepest intraday decline since December 22, 2020, to Rs 1,991.00 apiece.
The company informed it intimated the stock exchanges the information/events as required under Regulation 30 of the SEBI (LODR) Regulations, 2015 and clarified it did not have any information/announcement that may have a bearing on the price/volume behavior of the scrip, according to exchange filing by Shriram City Union. The reply comes after BSE Ltd. sought a clarification from the company for the movement in price.
Of the 16 analysts tracking the company, 14 maintained ‘buy’ and 2 maintained ‘sell’ recommendations, with two analyst downgrades in the last 30 days. The overall consensus price of analysts tracked by Bloomberg implied an upside of 8%. Shares of Shriram City Union Finance added 91% in 2021 so far.