Shriram Finance slips 10% in 2 days, hits 11-month low; here's why

Shriram Finance reported movement of 10% and -17%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.

Against that, the stock is -4.7% on the day at ₹824.60, and has returned -14.9% over three months. It sits 28% below its 52-week high, which means a good deal of bad news was already in the price. The financial services sector has moved -11.5% over the same period, so Shriram Finance is running 3.4 points behind its peers.

This is an Asset quality / margins event. For lenders the headline profit is the least informative line. Slippages, credit cost and margin direction determine whether the quarter is repeatable. On the day the stock is -4.7%, so the tape moved decisively on this.