Shriram Fin newsmaker

Shriram Finance is a newsmaker today morning; opening 4% higher at Rs.1460.10; it rose further to Rs.1500, not too far from its 52-week high of Rs.1509.25. It’s the volumes which have drawn all the attention – up almost 400x.

The reason for the spurt in the volumes?  A large block deal, wherein more than 99 lakh shares or 2.65% stake have changed hands at a price of Rs.1401.15/share, taking the total deal value at Rs.1390 crore.

Though the name of the buyer and seller is not yet known, grapevine has it that the likely seller is TPG India, the PE fund has offloaded its remaining entire stake of 2.65%.