SRF gains on receiving approval to set up Multipurpose Plant-2 at Dahej

SRF is currently trading at Rs. 392.00, up by 1.80 points or 0.46% from its previous closing of Rs. 390.20 on the BSE. The scrip opened at Rs. 382.50 and has touched a high and low of Rs. 393.95 and Rs. 368.00 respectively. So far 25,000 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 422.90 on 15-Apr-2014 and a 52 week low of Rs. 125.55 on 05-Aug-2013. Last one week high and low of the scrip stood at Rs. 399.45 and Rs. 368.00 respectively. The current market cap of the company is Rs. 2,250.00 crore. The promoters holding in the company stood at 52.38% while Institutions and Non-Institutions held 21.36% and 26.26% respectively. SRF has received an approval for setting up Multipurpose Plant-2 for creating additional manufacturing capacity for specialty chemicals at the company’s Chemical Complex in Dahej, Gujarat at an aggregated cost of Rs 140 crore. The board of directors at its meeting held on May 09, 2014 has approved for the same. SRF is a leader in refrigerants, engineering plastics and industrial yarns in India. The company also manufactures polyester films and fluoro specialties. Besides India, SRF has a presence in Dubai, South Africa and Thailand.