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SRF shines on getting nod to set up integrated facility for development of PTFE

SRF is currently trading at Rs. 2867.65, up by 289.20 points or 11.22% from its previous closing of Rs. 2578.45 on the BSE.

The scrip opened at Rs. 2638.85 and has touched a high and low of Rs. 2887.85 and Rs. 2638.85 respectively. So far 48418 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 3086.00 on 03-Jul-2019 and a 52 week low of Rs. 1616.60 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 2887.85 and Rs. 2551.85 respectively. The current market cap of the company is Rs. 16434.72 crore.

The promoters holding in the company stood at 52.32%, while Institutions and Non-Institutions held 29.51% and 18.16% respectively.

SRF has received an approval for setting up of an integrated facility for development of PTFE at an estimated cost of Rs 424 crore. The proposed capacity addition will be 5,000 MTPA.

The Board of Directors of the company at its meeting held on August 5, 2019, approved the same.

SRF is a leader in refrigerants, engineering plastics and industrial yarns in India. The company also manufactures polyester films and fluoro specialties. Besides India, SRF has a presence in Dubai, South Africa and Thailand.

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