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SRF share price scales all-time high post commissioning of new facility

SRF stock gained 1.87% to hit all time high of Rs 4,303 against previous close of Rs 4,224 on BSE

twitter-logoBusinessToday.In | August 11, 2020 | Updated 16:51 IST
SRF share price scales all-time high post commissioning of new facility
SRF share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

Shares of SRF touched a fresh all-time high today after the company said it commissioned a new facility to produce specialty chemicals in Gujarat. SRF stock gained 1.87% to hit all time high of Rs 4,303 against previous close of Rs 4,224 on BSE.

Total 0.22 lakh shares were traded amounting to turnover of Rs 9.43 crore on BSE.

SRF share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving average.

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The share has gained 21% since the beginning of this year and 43.48% during last one year.  The commissioning of a new facility comes on the back of a packaging film plant addition in Europe and an approval to set up a chloromethanes plant in Gujarat.

The company said it delayed polytetrafluoroethylene plant by one year due to adverse global economic environment. Even so, the company's tactical investments are serving it well. In last quarter, operating profit of the firm rose 6.3%. Revenue fell 12.4% from the year ago quarter.

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