Shriram Finance shares climb over 5%

New Delhi: Shares of financial services firm Shriram Finance on Tuesday climbed over 5 per cent after the company announced the sale of its housing finance arm to private equity major Warburg Pincus for Rs 4,630 crore, to focus on vehicle finance and small business lending.

The stock advanced 5.13 per cent to Rs 2,419 on the BSE. At the NSE, it climbed 5 per cent to Rs 2,417.85 apiece. Warburg is committed to investing another Rs 1,000 crore in the 2011-incorporated Shriram