SRF share price jumps 6% to hit new high on capex plans
The proposed capacity addition to this project is 2150 MTPA, which will be done within 10 months.
February 05, 2020 / 01:57 PM IST
The share price of SRF jumped almost 6 percent to hit its fresh all-time high of Rs 3,962.30 in intraday trade on BSE on February 5.
The company, in a BSE filing on February 4, said its board in a meeting held a day earlier approved a project for setting up a range of dedicated plants to produce specialty chemicals at an estimated cost of Rs 238 crore.
The proposed capacity addition is 2150 MTPA, which will be done within 10 months. The mode of financing for this project, includes a mix of debt and internal accruals.
SRF shares were trading 4.83 percent up at Rs 3,926.05 on BSE at 1350 hours.