SRF climbs on getting nod for setting up manufacturing facilities in Indore, Gujarat
SRF is currently trading at Rs. 2291.85, up by 115.40 points or 5.30% from its previous closing of Rs. 2176.45 on the BSE.
The scrip opened at Rs. 2150.05 and has touched a high and low of Rs. 2311.95 and Rs. 2150.05 respectively. So far 24070 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2697.45 on 03-May-2024 and a 52 week low of Rs. 2081.25 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 2335.00 and Rs. 2146.25 respectively. The current market cap of the company is Rs. 68278.49 crore.
The promoters holding in the company stood at 50.26%, while Institutions and Non-Institutions held 36.09% and 13.66% respectively.
SRF has received approval from board of directors for setting up manufacturing facility for BOPP -- BOPE Film (including Metallizer) at Indore. The proposed capacity addition is 60,000 MTPA (Nameplate) on BOPP. The total investment required for said capacity addition is Rs 445 crore. The rationale of this capacity addition is to explore expansion in business adjacencies. The said capacity is to be added in 25 months.
The board has also approved project for setting up new facilities to manufacture fourth generation refrigerants at Dahej, Gujarat or any other location found suitable by the Company at an expected cost of around Rs 1100 crore. The mode of financing will be internal accruals and borrowings. These facilities aim to meet the future requirements of refrigerants with a significantly lower global warming potential (GWP) and help in lowering carbon footprint.
The Board of Directors at its meeting held on October 22, 2024 has 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.
