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Wednesday, 24 January 2018

Shriram Transport sells stakes in Shriram Automall for Rs. 156 cr

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Shriram Transport Finance Company Limited (STFCL) has agreed to sell stakes in its subsidiary Shriram Automall India Limited (SAMIL) to MXC Solutions India, which runs an online auctions platform to buy and sell vehicles. The two companies have inked the share purchase agreement and the deal is valued at Rs. 156.00 crore, as per media report.

Meanwhile, the stock of Shriram Transport Finance was ended at the closing hours on NSE at Rs. 1,435 per share, down Rs. 33.80 or 2.30 percent while on BSE, the  stock closed at Rs 1,437.35, down 2.13%. 

The equity benchmarks managed to settle at fresh record peak. The BSE Sensex rose 22 points to end at a new high of 36,162. The Nifty50 index settled 2 points up at a fresh record of 11,086. 


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