Credit Suisse has given a 'outperform' rating to Shriram Transport Finance. The brokerage firm reiterates the outperform rating with improving growth, margin, and asset quality outlook. Credit Suisse has set a price target of Rs 1,625 for the stock.

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A few weeks ago, in an interview with CNBC-TV18, Umesh Revankar, the managing director of Shriram Transport Finance, said that the demand was picking up slowly, but steadily. He stated that there has been a pick-up in auto sales and therefore demand for commercial vehicle (CV) financing has also risen. He expects the loan growth to be around 6 percent in the 2021 fiscal but added that it will be much higher next year.

“As of now the long haulage is still yet to pick-up, still it is weak, but MoM it is improving. Long haulage still will take another two quarters but demand is there for the dumper, tipper that category or vehicle which is linked to the infrastructure,” Revankar said.

(Edited by : Anshul)