SRF shares: Over the last six months, SRF stock has returned 8.26 percent. Over the same time period, the benchmark Nifty50 index has returned 12.47 percent.
SRF Ltd shares rose nearly 1% in early trading on January 2 following the commissioning of an aluminum foil manufacturing facility, SRF Altech Limited, for Rs 536 crore. The SRF stock was trading at Rs 2,484 per share on the NSE at 9:35 a.m.
SRF established SRF Altech, a wholly-owned subsidiary, to construct a manufacturing facility for producing aluminum foil. The facility was successfully commissioned, and it has now been capitalized at a cost of Rs 536 crore. SRF’s strategic expansion into aluminum foil manufacturing is represented by this move. The subsidiary’s establishment and operational status are consistent with SRF’s broader diversification and growth initiatives.
SRF’s investment of Rs 536 crore demonstrates a significant commitment to this venture, indicating confidence in the potential of the aluminum foil market. This development not only strengthens SRF’s position in the industry but also reflects the company’s proactive approach to exploring new business opportunities and staying ahead in a competitive market. According to information provided by the company in an official filing with the exchanges on January 1.
In a recent report, brokerage firm JM Financial gave the SRF stock a buy rating with a 12-month target price of Rs 3,040 per share. This represents a 28.4 percent increase over the current market price. The report went on to say, Our recent interaction with SRF’s management during its analyst day gave us insights on the progress of the company’s ongoing growth plans, as well as long-term opportunities in the company’s various sub-segments.
Over the last six months, SRF stock has returned 8.26 percent. Over the same time period, the benchmark Nifty50 index has returned 12.47 percent.
