Buy Shriram Transport Fin on correction: Macquarie Capital

Buy Shriram Transport Finance Corporation on correction, says Suresh Ganapathy, Senior Analyst, Macquarie Capital Securities India Pvt Ltd.

Ganapathy told CNBC-TV18, "In Shriram Transport Finance Corporation most of the concerns are priced in. If you look at our target price itself, our recommendation itself, we have a neutral rating on Shriram Transport, earnings growth this quarter tend to be a bit muted about 10-15% is our expectation, growth overall for the year is also going to be relatively modest at 15%."
He further added, "The problem here is, once the regulations come into play in July or August, whenever RBI comes out with the revised set of guidelines, there could be some more downside to the stock. So I would recommend investors to buy Shriram Transport Finance on corrections."