India's Shriram Finance rebounds on hopes of inclusion into Nifty 50 index

Avenue Supermarts

28/02/2024 08:51

** Shares of non-banking finance company Shriram Finance
 SHMF.NS  rise as much as 2.33% to 2,427.70 rupees apiece
    ** National Stock Exchange's index maintenance sub-committee
meeting is scheduled today, after closing bell, to conduct a
periodic review of stocks in various Nifty equity indexes
    ** A sales note from Macquarie says Shriram Finance could
possibly be included in the Nifty 50 index    
    ** Macquarie says SHMF is more likely to be included into
the benchmark index as other contenders including Avenue
Supermarts  AVEU.NS , Jio Financial Services  JIOF.NS  and
Zomato  ZOMT.NS  are not allowed to trade in derivatives segment
    ** Macquarie reiterates SHMF as top pick among non-banking
finance 
    ** SHMF shares dropped 4.54% on Tuesday, snapping a
three-session winning streak
    ** Including today's gains, stock is up 18% in 2024 so far -
LSEG data
    
    
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))