SRF loses ground by over 7%
DSIJ Intelligence / 09 Aug 2017
The shares of SRF witnessed a slip of over 7% at Rs 1,423.45 per share on the BSE. The stock on the NSE attracted a total traded volume of 4,17,776 shares and a traded value of Rs 6,074.34 lakhs.
The shares of SRF witnessed a slip of over 7% at Rs 1,423.45 per share on the BSE. The stock on the NSE attracted a total traded volume of 4,17,776 shares and a traded value of Rs 6,074.34 lakhs.
SRF’s board on Tuesday approved setting up a facility to produce specialty chemicals (P-33) for the agro industry at its chemical complex at Dahej, Gujarat, at an estimated cost of Rs 85 crore. The proposed capacity addition is 800-1,000 TPA and a period of nine months was allotted within which the proposed capacity is to be added.
The mode of financing for the plant is a mix of debt and internal accruals. The rationale behind the setting up of the plant is for production of new chemicals for the agrochemicals industry. The stock is trading at 2.82 times its book value. The company has had a return on equity of 13.94% for the last three years.
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