SRF gains 2% as company to set up polyester film, resin plant in Thailand
The new line will be capable of producing approximately 40,000 metric tonnes per annum.
July 10, 2018 / 09:55 AM IST
Integra Engineering India | The company's RoE for FY18: 33.00%, FY19: 63.33%, and FY20: 22.22%. On September 7, the share price closed at Rs 25.50 which is -45 percent below its 52-week high of Rs 46.70.
Shares of SRF gained 2.5 percent in the early trade on Tuesday as company announces setting up of a polyester film and resin plant in Thailand.
The company is setting up of a second bi-axially oriented polyethylene terephthalate (BOPET) film line and a resin plant in Thailand at an investment of approximately USD 60 million.
This new plant will be put up at company’s existing manufacturing location in Rayong, Thailand by its wholly owned subsidiary - SRF Industries (Thailand) and is expected to become operational in close to two years, company said in release.
Once operational, the new line will be capable of producing approximately 40,000 metric tonnes per annum, it added.
With this capacity addition, the company will further strengthen its presence in the buoyant South East Asian region and expand its customer base in new geographies.
At 09:37 hrs SRF was quoting at Rs 1,772.95, up Rs 45.35, or 2.63 percent on the BSE.Posted by Rakesh Patil