SRF Ltd’s stock is down 19 per cent from its 52-week high of 2,864.35.
Nirmal Bang Securities has issued a report with a positive outlook on the stock.
Other brokerage houses have ‘Buy’ rating on the stock for a target of Rs 2,844.
Mumbai. Many stocks have given multibagger returns in the last few years in the stock market. (Multibagger Stock) By giving, the investors have been made rich. In this episode, the name of SRF Ltd., a chemical company, has given a return of more than 5560 percent to its investors in 10 years. However, the stock is currently down 19 per cent from its 52-week high of Rs 2,864.35. The stock had hit a one-year high on 14 September.
Today, the share of SRF Limited closed at Rs.2322 on NSE with a slight decline, while its price on BSE was Rs.2324. The brokerage house has maintained its bullish stance on SRF due to its outperformance.
Nirmal Bang Securities in its recent report said that the order book of the specialty chemicals company remains very solid and the growth momentum is expected to continue. The brokerage house said, “Apart from chemicals, the fluoro polymer segment may emerge as a better opportunity for the company in the medium term and we expect to announce major capex plans in the coming days. While margins in the Packaging Films business due to pressure in BOPET spreads
While under pressure, we believe that 75% of the company’s fair value is derived from the appropriate chemicals business, which continues to exceed expectations every quarter.”
At the same time, another brokerage house CITI has given a buy call on SRF shares with a target of Rs 3,125. The company continues to expand its chemical business. However, the overall performance of packaging films is likely to remain under pressure. B&K Securities is also bullish on select stocks in the chemical space and has ‘Buy’ rating on SRF with a target of Rs 2,844.
Let us tell you that in the last few years, shares of many companies working in many sectors including IT, Chemical, Auto have given tremendous returns to the investors. This return is many times more than the interest received in traditional savings schemes.
FIRST PUBLISHED : December 21, 2022, 08:30 IST