Page 2 of Shriram Finance

Kajaria Ceramics’ shares dropped by 3.9% after the company revealed a financial fraud by its CFO at a subsidiary. Despite this, Motilal Oswal Financial Services maintained a ‘Buy’ rating and a target price of Rs 1,252, expecting a 19% upside in the next 12 months. The company will set aside Rs 20 crore for exceptional expenses, but 50% is recoverable. Soft demand and competition pose challenges.