Shriram AMC touches roof on launching Shriram Nifty 1D Rate Liquid ETF (Growth)

28 Jun 2024 Evaluate

Shriram Asset Management Company is currently trading at upper limit of Rs. 346.85, up by 31.50 points or 9.99% from its previous closing of Rs. 315.35 on the BSE.

The scrip opened at Rs. 333.00 and has touched a high and low of Rs. 346.85 and Rs. 321.30 respectively. So far 7804 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 369.55 on 12-Jan-2024 and a 52 week low of Rs. 125.35 on 30-Jun-2023.

Last one week high and low of the scrip stood at Rs. 346.85 and Rs. 284.00 respectively. The current market cap of the company is Rs. 451.49 crore.

The promoters holding in the company stood at 62.55%, while Non-Institutions held 37.45% stake in the company.

Shriram Asset Management Company (Shriram AMC) has launched Shriram Nifty 1D Rate Liquid ETF (Growth), an open-ended Exchange Traded Fund tracking the Nifty 1D Rate Index. The Shriram Nifty 1D Rate Liquid ETF (Growth) New Fund Offer will be open for subscriptions from July 1, 2024 till July 3, 2024. Investors can apply through their securities brokers or by depositing physical forms at their nearest CAMS Investor Service Centre.

The Shriram Nifty 1D Rate Liquid ETF (Growth) provides investors with easy cash management with high liquidity, relatively low interest rate risk and relatively low credit risk. They can earn higher returns by investing their idle cash in this ETF seamlessly through their demat account, instead of leaving it in their savings account. The Growth plan delivers compounding of returns without the need to track daily fractional dividends, with capital gains tax being applicable only on redemption. 

The fund has lower interest rate volatility as it invests only in the overnight money market, with lower risk due to just a one day exposure to liquid instruments backed by government securities. Along with liquidity and steady returns, Shriram Nifty 1D Rate Liquid ETF (Growth) will also be made eligible as collateral for margin trading giving greater convenience to active equity investors.

Shriram Asset Management Company is an integral part of the ‘Shriram’ Group. The Company act as the Asset Management Company of Shriram Mutual Fund. 

Shriram AMC Share Price

572.65 -28.35 (-4.72%)
20-Dec-2024 16:59 View Price Chart
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