SRF shares surge over 6% on upbeat results

Reuters Updated on February 08, 2018

Citi raises target price

Shares of SRF jumped on upbeat December quarter results. The stock rose as much as 6.4 per cent to Rs 1,889.40. The stock posted biggest intraday percentage gain since November 2017.

The company had on Wednesday reported a 21 per cent jump in December quarter consolidated profit.

Citi has raised the target price to Rs 2,070 from Rs 1,764. It says early signs of recovery in speciality chemicals business are now visible. It adds that the company has reported “strong’’ quarter with fairly broad-based growth.

Up to Wednesday’s close, the stock was down 10.4 per cent this year.

Published on February 08, 2018
TOPICS
stocks and shares

Previous Story Nikkei rises on bargain-hunting but investors remain edgy after wild sell-off

Next Story Cipla stocks spurt nearly 7% on Q3 results

MORE FROM BUSINESSLINE


 Getting recommendations just for you...
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.