SRF Limited is a textiles and nylon fibre manufacturing company with nine months EPS at rs. 36 approx. At cmp of nearly rs. 160, this stock is definitely a Value Pick. The year's low was 136.50 and high was 372.70. The company also stands to gain from carbon credits. It is a very attractive buy at current levels and the current weakness in the overall markets can be used to accumulate this stock.
Recent pieces of news from the company:
SRF Ltd has informed BSE that the Board of Directors at its meeting held on October 27, 2004 inter-alia, had approved capital expenditure proposal for Modernization and Expansion of capacity of Industrial Synthetics Business (now Technical Textiles Business) at Manali (Madras) and Gwalior.The Company has now informed that, following projects have been commissioned:
1. Expansion of capacity of Nylon Tyre Cord Fabric at Gwalior— from 10000 MTPA to 17000 MTPA
2. Expansion of Poly and Spinning capacity at Manali — from 11000 MTPA to 25400 MTPA.
SRF Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 20, 2007 has approved the following projects:
1. Upgradation of R&D facility and pilot plant at a total cost of Rs 14.40 Crores.
2. Manufacturing of a new fluoro speciality chemical at a total cost of Rs 14.35 Crores.