BUZZ — India's Shriram Finance rises on report MUFG considers majority control

* Shares of India's Shriram Finance rise 6.05% to 984.65 rupees * Stock rises after Bloomberg News reports that Japan's Mitsubishi UFJ Financial Group (MUFG) is exploring ways to gain majority control of Shriram Finance * MUFG is in early stages of considering raising its stake in Shriram Finance to more than 50% from about 20% currently, the report said, citing people familiar with the matter * The Japanese lender may need to invest more than $10 billion to gain control, though it has not set a firm timeline for potential deal. * MUFG and Shriram Finance did not immediately respond to Reuters requests for comment * Last December, MUFG agreed to acquire 20% stake in Shriram Finance for $4.4 billion, marking the largest cross-border investment in India's financial sector at the time * SHMF stock up 72.40%, YTD (Reporting by Surbhi Misra in Bengaluru) ((Surbhi.Misra@thomsonreuters.com | X: |;)