Shares of SRF rise as Nifty drops

Shares of SRF Ltd. gained 0.21 per cent to Rs 2240.05 in Thursday's trade as of 12:30PM (IST). It hit a high of Rs 2247.05 and low of Rs 2222.35 during the session.

The stock quoted a 52-week high price of Rs 2864.35 and a low of Rs 2002.5. The return on equity for the stock stood at 22.05 per cent. About 2,099 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.24.

The scrip has been an underperformer, down 4.7 per cent in the past one year in comparison with a 5.1 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 2002.5 on March 02, while the 50-DMA was at Rs 2228.04. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 50.53 per cent stake in SRF Ltd. as of 31-Dec-2022. Mutual funds and foreign institutional investors held 9.26 per cent and 18.32 per cent stake.