Shriram Finance Rejects Stake Sale Rumors, Shares Rise

A rumor surfaced that Shriram Finance might sell a big chunk of the company to MUFG, a Japanese financial group.

This report said the deal could be worth a lot of money.

However, Shriram Finance quickly said this rumor wasn't true.

They stated they had no discussions or plans for such a sale, and requested people disregard misleading information.

The company's shares saw an increase in value after the denial was issued.

The company has a shareholding pattern that includes foreign investors, institutional investors and others.