SHRIRAM TRANSPORT Rating
MORGAN STANLEY ON SHRIRAM TRANSPORT : 08.06.2021
• Maintain Overweight, Target at Rs 2,000/share
• Announces equity infusion via preferential allotment to promoter
• Shriram Transport opened a QIP, with a potential issue size of up to Rs 2,000cr
• SHTF is well capitalized, but this issuance should further help funding access
MS ON SHRIRAM TRANS : 08.06.2021
* MAINTAIN OVERWEIGHT TARGET: 2,000
* MS has an Overweight call on Shriram Transport
• Promoter Will Invest *500 Cr Via Equity Shares & Warrants
• This Issuance Should Further Help Funding Access & Costs
JEFFERIES ON SHRIRAM TRANS : 08.06.2021
* MAINTAIN UNDERPERFORM TARGET: 1,130
* Jefferies has an Underperform rating on Shriram Trans, but believes fund raising exercise will help raise Tier-I CAR by 100 bps & can support growth/ ratings
* Fund Raising Will Result In Dilution Of 7% On Shares
* It Can Lift FY22-23 Profit By 6-9%, Adj BVPS By 6%
* Tier-I CAR May Rise By 100 bps & Can Support Growth/ Ratings
