BUZZ-Shriram Finance extends record run on $4.4 billion MUFG deal

Reuters12-22 12:03

** India's Shriram Finance SHMF.NS gains 2.2% to a fresh record high of 921 rupees

** Stock extends gains from Friday when Japan's Mitsubishi UFG Financial Group said it will buy 20% stake in the Indian NBFC for $4.4 bln

** Stock rose ~4% to a record high after news on Friday

** Jefferies ("buy," PT: 1,060 rupees) says deal will boost SHMF's capital base and prospects of a credit rating upgrade

** Nomura ("buy," PT: 1,140 rupees) calls deal "a big positive," adding that a premier Japanese bank can bring expertise in various aspects of SHMF's operations and business model

** Avg rating on SHMF at "buy"; median PT is 860 rupees - data compiled by LSEG

** YTD, stock up 59.3%

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))

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