'Shriram poised for strong growth'

Agencies : Tue Oct 09 2012, 15:00 hrs

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Credit Suisse starts coverage of Shriram Transport with an outperform rating and a target price of 745 rupees.

The investment bank expects the commercial vehicle financier to post compounded annual growth rate of 18 percent or more over the next three years, helped as well by growth in light commercial vehicles and its foray into new businesses.

Credit Suisse says regulatory risks remain, including measures on off-balance sheet funding, but adds Shriram's business model gives it enough flexibility and strength to overcome these changes and still deliver 20 percent RoE (return on equity).

Shriram shares gain 0.4 percent to 656.90 rupees after earlier hitting its highest intraday level since Sept 19, 2011.

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