
Shriram Finance shares rose approximately 2% following a credit rating upgrade by CARE Ratings to 'CARE AAA; Stable' for its debt instruments. This upgrade, based on strong financial performance, comes after MUFG Bank's announcement to acquire a 20% stake for Rs 39,600 crore, marking a significant FDI in India's financial sector. Brokerages anticipate the deal will strengthen the company's balance sheet and growth prospects, despite potential near-term earnings dilution.