Shriram Finance shares jump 2% as CARE upgrades credit rating to AAA following MUFG deal

Shriram Finance shares surged after receiving its first credit rating upgrade to "CARE AAA; Stable" following a strategic deal with Japan’s MUFG. MUFG's $4.4 billion investment, its largest in India, is seen as a strong endorsement of Shriram Finance's fundamentals and growth prospects. Brokerages have raised target prices, citing enhanced capital and improved earnings visibility.