SRF surges 6% on setting up BOPET film line in Europe – The company’s December quarter net profit jumped 21 percent at Rs 131.22 crore against Rs 108.37 crore in a year ago period. – SRF BOPET film line Europe

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SRF surges 6% on setting up BOPET film line in Europe

The company’s December quarter net profit jumped 21 percent at Rs 131.22 crore against Rs 108.37 crore in a year ago period.

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SRF BOPET film line Europe

Representative image

SRF

Share price of SRF added 6 percent intraday Thursday as company is setting up of a BOPET film line in Europe.

The company had approved a capex for setting up of a BOPET film line in a new entity to be incorporated as a wholly owned subsidiary of the company in Europe at a cost of Euro 58 million to be financed by loan and/or internal accruals.

The new capacity is being set up to serve customers in Europe, Russia and other markets.

The company’s December quarter net profit jumped 21 percent at Rs 131.22 crore against Rs 108.37 crore in a year ago period.

The board declared interim dividend at 60 percent (Rs 6 per share) on the paid-up equity share capital of the company.

At 11:13 hrs SRF was quoting at Rs 1,851.75, up Rs 75.05, or 4.22 percent on the BSE.

The share touched its 52-week high Rs 2,045 and 52-week low Rs 1,420 on 15 January, 2018 and 09 August, 2017, respectively.

Currently, it is trading 9.45 percent below its 52-week high and 30.4 percent above its 52-week low.

The company’s trailing 12-month (TTM) EPS was at Rs 63.22 per share. (Dec, 2017). The stock’s price-to-earnings (P/E) ratio was 29.27.

Posted by Rakesh Patil

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