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Shriram City Union up 5.35% in a declining market
This article was posted on Oct 27, 2008 and is filed under long term call email
MUMBAI: Consumer finance major, Shriram City Union Finance bucked the overall market trend to close with a gain of about 5.5 per cent as against the Sensex decline of 2.2 per cent. This was after The Economic Times reported that global buyout firm TPG is buying 55 per cent stake.. in Shriram Retail (its holding company) for Rs 805 crore triggering an open offer for 20 per cent in the company.
The stock has remained relatively stable as it has lost just 7.75 per cent in a month as against a Sensex decline of 35 per cent.
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