Specialty chemicals and packaging businesses to aid near term growth
Traders are advised to hold Nifty longs with 11,200 stoploss and keep it trailing as Nifty rises
Given the essential nature of production, some plants are exempted from the lockdown
Awards announced for nine other categories; Adi Godrej gets Lifetime achievement award
The Board has approved a proposal to set up dedicated facilities to produce intermediates catering to the agro-chemicals segment at an aggregate cost around Rs 238 crore
Technical textiles unit, however, could face some pressure
Much of the Shriram empire may have shrunk from early glory days but his SRF is going great guns
Trading calls by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers
The management said the specialty chemicals business performed well with strong demand witnessed in the overseas markets.
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Sticks to revenue growth guidance despite closure of Dahej plant
The company reported a healthy 41 per cent growth in consolidated net profit at Rs 189 crore in June quarter on strong performance by packaging film business.
Plant closure for an extended period could have an adverse impact
The stock dipped 5% to Rs 1,690 on the BSE, trading at its lowest level since February 6, 2018.
The stock dipped 11% to Rs 1,997 after the company reported a consolidated net profit of Rs 1.24 billion against an average analyst estimate of Rs 1.41 billion in March quarter.
The stock dipped 8% to Rs 1,420, trading close to its 52-week low of Rs 1,352 hit on Nov 18, 2016
Duty on Chinese exports of R134a gas should improve SRF's capacity utilisation and margins
The stock was down 8% to Rs 1,615 on the BSE in intra-day trade.
On NSE, it jumped 9.72 per cent to touch its one-year peak of Rs 1,688.70
The plant with an annual capacity of 40,000 tonnes is scheduled to be commissioned in December 2017