Shares Shriram Transport Finance Co Ltd fell in intra-day session Monday by upto 5pc after news report surfaced that Piramal Enterprises is likely to divest its stake in the company. 

As per media reports, about 10pc equity shares have changed hands through block deal on the National Stock Exchange in early trade,   worth Rs.2305crore at a price of between Rs1000 to 1023 per share. 

As per a Bloomberg, there was an announcement that ShriramCapital is considering merging with its publicly traded companies Shriram City UnionFinance Ltd and ShriramTransport Finance Co. 

Shares of Shriram Transport Finance Co is currently (at 11.35am) trading at Rs.1043.40, down by Rs41.55 or 3.83% from its previous closing of Rs 1,084.95 on the NSE. The stock opened at Rs.1024.00 and has touched a high and low of Rs1,055 and Rs.1000 respectively.

Meantime, PiramalEnterprises Ltd is trading at Rs.2033, down by Rs.39.75 or 1.92pc from its previous closing of Rs.2,072.75 on the NSE. The stock opened at Rs.2072.75 and has touched a high and low of Rs.2126.25 and Rs.2030.00 respectively.