India's SRF up as analysts reiterate demand, growth outlook

SRF

01/12/2023 05:58

** Shares of SRF Ltd  SRFL.NS  up 3.28% to 2,445 rupees;
among top gainers in Nifty Next 50  .NN50  which is up 0.66%
    ** Brokerages reiterate positive growth outlook for the
chemicals manufacturer after a meeting with the management
    ** Demand seen picking up in H2 FY24, while the outlook
remains favourable for fluoropolymers business, says Kotak
Institutional Equities, retaining a "buy" recommendation
    ** Specialty chemicals business to see improvement over next
six to nine months, says JM Financial, adding that SRFL remains
at the forefront of capturing growth in fluorochemicals space
    ** Jefferies lists efficient management, industry-leading
execution and domain expertise as positives for SRFL; awaits
favourable risk-reward before turning more constructive
    ** Trading volume is 2.5x the 30-day avg as of 11:18 a.m.
IST - LSEG data
    ** Including day's gains so far, SRFL up 5.6% this year,
compared to 14.6% in Nifty Next 50

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))