Shriram Group is one of the largest financial conglomerates significant presences in small enterprising financing, commercial vehicle financing business, retail finance, life and general insurance, stock broking, chit funds and distribution of financial products. The group is also present in businesses such as property development, engineering projects and information technology.
They initiate coverage on Shriram City Union Finance Ltd as a BUY @2100 with an immediate target of Rs 2350 representing a potential upside of 12% from the buy price. Shriram City Union is trading at a PE of 24.64.