Robust demand trends in chemicals biz, expansions positive for SRF stock

Company has increased capex for the business to tap into new opportunities

Even as the benchmark indices traded in the negative territory – going down close to 1.5 per cent over two days -- specialty chemicals major SRF gained over 4 per cent in trade and was the top gainer in the BSE 100 basket, on Monday. On Tuesday, though, the stock was relatively flat at Rs 2364.

The gains came on the back of a better-than-expected June quarter (Q1) show of the 2022-23 financial year (FY23), led by the chemicals and packaging segments. While some brokerages have marginally cut their estimates due to margin pressures in the packaging segment for FY23,