Shriram Finance shares surge 7% amid reports of large block deal

Shares of Shriram Finance jumped 7% to Rs 1,500 in Monday’s trade, following reports of a large block deal. TPG has reportedly sold its entire stake in the firm, but the buyers are yet to be confirmed. During Q4 FY23, Shriram Finance recorded a 20% increase in its net profit at Rs 1,308 crore backed by an over 50% surge in interest income. The consensus recommendation from 27 analysts for the stock is a buy, with an average target price of Rs 1,571, reflecting an upside potential of 7%.