Multibagger Stock: Shares of SRF Limited have doubled investors’ money in the last 12 months. The stock rose 4 per cent to a high of Rs 2244.15 on the Bombay Stock Exchange (BSE) on Thursday. It has increased from Rs 1,005 to Rs 2,244.15. The large-cap stock has gained 123 per cent in the past one year and 96 per cent since the beginning of this year. With a market capitalization of over Rs 64,000 crore, the stock is trading higher than the 5 day, 20 day, 100 day and 200 day moving averages but lower than the 50 day moving averages.
The company reported a 21 per cent year-on-year (YoY) growth in its net profit at Rs 382.45 crore for the quarter ended September 2021. The profit in the year-ago period was Rs 315 crore. Net sales grew 35 per cent to Rs 2,838.97 crore in the September quarter from Rs 2,100.83 crore in the year-ago period.
Brokerage firm ICICI Securities said Q2FY22 print of SRF was not encouraging but from higher realizations in HFC (Ref-Gas) to strong margin expansion in chemical business, we expect even higher gains in H2FY22.
According to Marketsmojo, the company has declared positive results for 5 consecutive quarters and has a high institutional share of 29.6%. The stock is technically in a light bullish range. Many factors like MACD, Bollinger Bands, KST and Dow are bullish for the stock.
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