SRF gains 8% on strong Q1 show

Shares of SRF rose more than 8 percent in the early trade on August 6 after the company posted strong numbers for the quarter ended June 2019.

The company registered 42 percent jump in its Q1 profit to Rs 189.2 crore against Rs 133.8 crore in the same quarter last year.

Revenue of the company increased 9 percent at Rs 1,828.4 crore versus Rs 1,676.2 crore.

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The board of directors of the company declared interim dividend at 70 percent i.e. Rs. 7 per share on the paid-up equity share capital of the company.

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The board also approved a project for setting up of an integrated facility for the development of PTFE at an estimated cost of Rs 424 crore.

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The proposed capacity addition is 5,000 MTPA by October 31, 2021 with mix of debt and internal accruals.

At 0926 hours, SRF was quoting at Rs 2,788.25, up Rs 209.80, or 8.14 percent on the BSE.

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tags #Buzzing Stocks

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