Stocks

SRF Ltd sees best session in over 4-1/2 years on profit surge

Reuters August 6 | Updated on August 06, 2019 Published on August 06, 2019

Shares of SRF Ltd, which makes chemicals and polymers, jumped as much as 13.4 per cent to Rs 2,924 in the biggest daily per cent gain since November 19, 2014.

June-quarter profit rose 41.3 per cent to Rs 189 crore ($26.77 million), beating estimates of Rs 149 crore.

Total revenue rose 9 per cent, aided by a 26 per cent jump in the chemical business.

Up to last close, the stock is up 29 per cent this year, while peer Tata Chemicals fell 21 per cent.

Published on August 06, 2019
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