Shriram Finance shares hit 15% upper circuit as Piramal Enterprises sells entire stake via block deals

Piramal Enterprises has sold its entire 8.34% stake in Shriram Finance via block deals, worth INR 4,630 crore, marking another significant deal in the financial services sector. Shares of Shriram Finance hit their fresh one-year high and were locked in a 15% upper circuit on NSE, while shares in Piramal Enterprises were up 12% in the opening trade. Shriram Finance has emerged as the largest non-banking financial company in India, with AUM of INR 193,730 crore, according to a Crisil report.