Shriram Automall India Limited (SAMIL), country's leading service provider for pre-owned vehicles and equipment, has inked an agreement with Au FINANCIERs (India) Limited, a non-banking finance company (NBFC) based in Rajasthan. The tie-up has been set on the ground of complete solutions, promised by the service provider for parking and disposal of the NBFC's all types of pre-owned vehicles and equipment. SAMIL has committed transparent and organised bidding solutions in the disposal of their repossessed 3 wheelers, 4 wheelers, construction equipment, light commercial vehicles, medium commercial vehicles, heavy commercial vehicles, trailors, tractors, tippers, dumpers and other machinery. 24x7 safe and secured parking has also been promised in the agreement.
Commenting on the tie-up, Mr. Sameer Malhotra (CEO of SAMIL) stated, "We have been associated with Au FINANCIERs from 2013 while providing holistic solutions for the disposal of their pre-owned vehicles. Through this alliance, we are all set to take this association ahead with our multiple bidding platforms, like physical bidding, online bidding, one stop classified kiosk and private treaty".
SAMIL will conduct regular bidding events in its Automalls, across India. The Company has recently accomplished a benchmark figure in its pan-India presence by launching its 50th Automall facility. SAMIL's physical bidding events are strategically organised to facilitate transparent solutions on asset disposal. Online bidding events will add much more value to the entire business through their quick and convenient nature.
While sharing views on the alliance, Mr. Vishal Sharma (Asst. Vice President, Marketing, Delhi, NCR of Au FINANCIERs) quoted, "We have been extremely benefitted in the liquidation of our repossessed vehicles through SAMIL's services. Our motto behind this tie-up is to avail complete facilities of the service provider in terms of disposal and parking".
Apart from physical and online bidding events, SAMIL will also be dedicating its one stop classified kiosk and private treaty bidding platforms for the disposal of NBFC's pre-owned vehicles. One stop classified kiosk will take the information of their inventory to every Shriram branch and Automalls, pan India. And, private treaty will offer better price realisation through negotiated deals.
Shares of SHRIRAM TRANSPORT FINANCE CO.LTD. was last trading in BSE at Rs.1022 as compared to the previous close of Rs. 1040.55. The total number of shares traded during the day was 21476 in over 2353 trades.
The stock hit an intraday high of Rs. 1060 and intraday low of 1019.05. The net turnover during the day was Rs. 22299345.