Shriram Finance shares rise 2% as report says Japan's MUFG in final talks to invest $3.2 bn for 20% stake

Shriram Finance shares rise 2% as report says Japan's MUFG in final talks to invest $3.2 bn for 20% stake -

The shares of Shriram Finance rose around 2 percent on December 15 after a report said that Japan’s Mitsubishi UFJ Financial Group (MUFG) is nearing a deal to acquire a minority stake in the gold financier. The shares of the company were trading at Rs 863.50 apiece, as seen at 2.45 pm. Earlier during the day, the stock jumped nearly 2.7 percent to hit the day’s high at Rs 870.60 per share. MUFG nearing deal for stake in Shriram Finance, says report: The Tokyo-headquartered financial group is planning to invest 500 billion yen ($3.2 billion or more than Rs 29,200 crore) to buy a minority stake of nearly 20 percent, Bloomberg reported on Monday, citing people familiar with the matter. The sources cited by the report added that the talks are at an advanced stage and an agreement is likely to be reached as soon as this week. all this is for information. this is not a buy/sell recommendation. thank you, Technofunda24