SRF spurts on plan to spend Rs 3,500 crore over next four years

SRF is currently trading at Rs. 1267.00, up by 5.75 points or 0.46% from its previous closing of Rs. 1261.25 on the BSE.

The scrip opened at Rs. 1271.00 and has touched a high and low of Rs. 1273.00 and Rs. 1256.15 respectively. So far 8576 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1495.55 on 05-Aug-2015 and a 52 week low of Rs. 959.95 on 18-May-2015.

Last one week high and low of the scrip stood at Rs. 1467.25 and Rs. 1237.00 respectively. The current market cap of the company is Rs. 7286.09 crore.

The promoters holding in the company stood at 52.38% while Institutions and Non-Institutions held 28.20% and 19.42% respectively.

SRF is reportedly planning to spend Rs 3,500 crore over the next four years, 70% of which would go into its fast-growing chemicals business, to cater to rising global demand. The company will use internal resources to fund the planned investment as the company generates about Rs 1,000 crore of free cash flows every year.

SRF is a leader in refrigerants, engineering plastics and industrial yarns in India. The company also manufactures polyester films and fluoro specialties. Besides India, SRF has a presence in Dubai, South Africa and Thailand.