Latest news with #ShriramFinanceLtd
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Business Standard
04-07-2025
- Automotive
- Business Standard
Truck rentals, EV and tractor sales rise in June; car sales see decline
Truck rentals saw positive momentum across most key trunk routes owing to increased hiring by the private sector. The Kolkata–Guwahati–Kolkata corridor witnessed a month-on-month (MoM) rise of 2.4 per cent, while the Mumbai–Chennai–Mumbai route grew by 1.9 per cent and the Delhi–Hyderabad–Delhi route saw a 1.6 per cent increase in truck rentals, said the June edition of the Shriram Mobility Bulletin. On a year-on-year (YoY) basis, truck rentals surged 14 per cent on the Kolkata–Guwahati–Kolkata route, 12 per cent on the Mumbai–Chennai–Mumbai corridor, and 9 per cent on the Delhi–Hyderabad–Delhi route. The June edition of the report reflects a steady recovery in India's logistics and mobility ecosystem, supported by pre-Kharif agricultural activity and a manufacturing sector targeting exports. Farm-linked categories and electric vehicles stood out as growth drivers in automotive sales, underlining the evolving contours of India's mobility landscape. Fuel consumption dipped MoM in June, but petrol and diesel sales rose YoY by 6.4 per cent and 1.2 per cent respectively. FASTag transaction volumes (in million) and values (in crore) also witnessed a fall MoM, but saw a YoY spike of 16 per cent and 18 per cent respectively. Vehicle retail sales in June 2025 reflected a mixed trend. While overall numbers declined MoM due to seasonal factors, farm and infrastructure-linked categories showed resilience. Agricultural tractors grew 3 per cent MoM and 4 per cent YoY, supported by pre-Kharif demand and stable rural cash flows. Construction equipment vehicles saw a strong uptick of 12 per cent MoM and 25 per cent YoY, driven by sustained infrastructure activity. Commercial tractors also rose 5 per cent MoM and 2 per cent YoY. Meanwhile, motor car sales dipped 12 per cent MoM and 6 per cent YoY, and two-wheelers contracted 18 per cent MoM and 1 per cent YoY as consumers deferred discretionary purchases amid market uncertainty. The electric vehicle segment maintained strong momentum in June 2025, supported by consumer demand and the introduction of new models. Electric two-wheelers grew 5 per cent MoM and surged 254 per cent YoY, reflecting their increasing popularity for urban mobility. Electric three-wheelers recorded a 2 per cent MoM rise and an impressive 663 per cent YoY growth, driven by demand in last-mile delivery and commercial transport. EV motor car sales also edged up 1 per cent MoM and soared 1,267 per cent YoY, reflecting broader adoption across consumer segments. Y S Chakravarti, Chief Executive Officer and Managing Director, Shriram Finance Ltd, said: 'June 2025 underscored a positive shift in economic momentum across the transportation sector. Truck rentals saw healthy month-on-month growth, spurred by a revival in manufacturing activity. Export-driven freight shows continued resilience, setting a constructive tone for Q2. While fuel consumption and FASTag collections dipped slightly, their sharp year-on-year rise signals enduring structural recovery and seasonal mobility trends.' 'However, passenger car sales continue to reel under subdued consumer sentiment, shaped by ongoing market uncertainty. Encouragingly, early monsoon onset and increased rural economic activity have strengthened tractor demand, with agriculture-linked mobility seeing renewed traction. Meanwhile, the electric vehicle segment is accelerating ahead of forecasts, powered by robust consumer interest and a wave of fresh model launches by leading automakers,' he said. E-way bill generation reflected steady growth in May. Intra-state e-way bill generations rose 4 per cent MoM and 19 per cent YoY, with the transaction value up 2 per cent MoM and 12 per cent YoY at Rs 15.04 trillion. Similarly, inter-state e-way bill generations grew 1 per cent MoM and 19 per cent YoY, while the value of transactions climbed 4 per cent MoM and 10 per cent YoY to Rs 13.13 trillion. The consistent uptick underscores sustained supply chain momentum driven by strong domestic consumption and early monsoon stock movements.
Time of India
18-06-2025
- Business
- Time of India
Shriram Finance to revise interest rates on fixed deposits from June 26
Shriram Finance Ltd , the flagship company of the diversified conglomerate Shriram Group, would revise its interest rates on fixed deposits with effect from June 26, the company said on Wednesday. As per the revised structure, senior citizens (aged 60 years and above at the time of deposit or renewal) would be eligible for an additional interest of 0.50 per cent per annum while women depositors would receive an additional 0.05 per cent per annum on fixed deposits. For deposits of 12 months, the existing rate of 7.65 per cent would be revised to 7.35 per cent while for deposits made through digital mode for a period of 15 months would be revised to 7.50 per cent from the current 7.90 per cent, Shriram Finance said in a company statement on Wednesday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo For 18 months, the interest rates would be revised to 7.40 per cent (current 7.80 per cent), 24 months 7.50 per cent from the existing 7.90 per cent. Interest rates would be revised to 8 per cent (from the existing 8.40 per cent) on deposits with a tenure of 36, 50 and 60 months, respectively. Live Events Shriram Finance said the interest rates on Fixed Investment Plans (FIPs) which are available via the 'Shriram One' mobile application and website would also be revised from June 26, 2025. Shriram Finance Ltd currently has a pan India presence of 3,220 branches and an employee base of 79,872. It serves about 95.56 lakh customers, it said.
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Business Standard
18-06-2025
- Business
- Business Standard
Shriram Finance to revise interest rates on fixed deposits from June 26
Shriram Finance Ltd, the flagship company of the diversified conglomerate Shriram Group would revise its interest rates on fixed deposits with effect from June 26, the company said on Wednesday. As per the revised structure, senior citizens (aged 60 years and above at the time of deposit or renewal) would be eligible for an additional interest of 0.50 per cent per annum while women depositors would receive an additional 0.05 per cent per annum on fixed deposits. For deposits of 12 months, the existing rate of 7.35 per cent would be revised to 7.65 per cent while for deposits made through digital mode for a period of 15 months would be revised to 7.90 per cent from the current 7.50 per cent, Shriram Finance said in a company statement on Wednesday. For 18 months, the interest rates would be revised to 7.80 per cent (current 7.40 per cent), 24 months 7.90 per cent from the existing 7.50 per cent. Interest rates would be revised to 8.40 per cent on deposits with a tenure of 36, 50 and 60 months, respectively. Shriram Finance said the interest rates on Fixed Investment Plans (FIPs) which are available via the 'Shriram One' mobile application and website would also be revised from June 26, 2025. Shriram Finance Ltd currently has a pan India presence of 3,220 branches and an employee base of 79,872. It serves about 95.56 lakh customers, the company said.
Time of India
27-05-2025
- Business
- Time of India
TrucksUp partners with Shriram Finance
Gurgaon-based full truckload aggregator TrucksUp has announced a joint venture with Shriram Finance Ltd to offer financial products to transporters, fleet owners, and logistics companies. Sarthak Elwadhi, co-founder of TrucksUp, said the partnership aims to improve financial access in the logistics sector. 'By offering financing options tailored to transporters and fleet owners, we aim to support growth and sustainability for logistics businesses across India,' he said. Nilesh S Odedara, joint managing director of Shriram Finance, said the company sees logistics as a key contributor to India's economic activity. 'We are pleased to collaborate with TrucksUp and look forward to supporting logistics operators with the financial tools they need. The services will be extended to Tier 2 and Tier 3 cities as well,' he said. Wahid Raza, business head – VAS at TrucksUp, said the alliance will help transporters and fleet operators access funding more easily. 'This collaboration helps provide capital access across the logistics ecosystem,' he said.
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Business Standard
13-05-2025
- Business
- Business Standard
Fitch upgrades Shriram Finance's rating on improved business profile
Fitch Ratings on Tuesday upgraded Shriram Finance Ltd's rating reflecting sustained improvement in standalone profile in recent years, particularly in funding diversity, risk management, portfolio quality and profitability. Fitch Ratings has upgraded India-based Shriram Finance Ltd's (SFL) Long-Term Foreign-and Local-Currency Issuer Default Ratings (IDRs) to 'BB+', from 'BB', with a 'stable' outlook. It said SFL has demonstrated steady performance since merging with its sister company, Shriram City Union Finance Ltd (SCUF), in 2022. The ratings also reflect SFL's time-tested and established franchise in used commercial-vehicle financing, seasoned management team, established risk controls and adequate balance-sheet buffers. India's robust medium-term growth potential and large, diversified economy should continue to support non-bank financial institutions' (NBFIs) business prospects and profitability in the medium-term. "The upgrade reflects sustained improvement in SFL's standalone profile in recent years, particularly in funding diversity, risk management, portfolio quality and profitability," Fitch said. Fitch believes that SFL's loan management practices and risk controls have tightened in recent years, improving the company's ability to maintain asset quality and navigate macroeconomic shocks. Enhanced risk management and recovery practices have resulted in reduced delinquency rates and are likely to continue containing credit losses. The management's diversified funding strategy also mitigates liquidity risks, it added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
