Shriram Finance Upgraded to AAA Credit Rating Following MUFG Deal

Shriram Finance shares are in focus after CARE Ratings upgraded its credit rating to AAA following a deal with Japan's MUFG. The upgrade reflects the company's operational and financial performance and the Japanese bank's acquisition of a 20% stake for $4.4 billion. Investors view the deal as a strong endorsement of Shriram Finance's fundamentals and long-term growth prospects. Nomura and Citi have raised their target prices on the stock, while PL Capital reiterated its Buy call.