SRF rises 8%; to set up two plants at Gujarat, Q1 net up 27%

Moneycontrol BureauShare price of SRF touched 52-week high of Rs 1659, surges 8.3 percent intraday Tuesday as it has approved setting up of two plants at Dahej, Gujarat.The company is going to set up a Chloromethanes plant of Rs 165 crore and third multipurpose plant of Rs 180 crore, at its chemical complex in Dahej, Gujarat.The company's Q1 (April-June) net profit was up 27.2 percent at Rs 144.2 crore and total income was down 0.2 percent at Rs 1,219.2 crore.EBITDA of the company was up 8.4 percent at Rs 290.4 crore and EBITDA margin rose 190 bps at 23.8 percent.The board has declared interim dividend at 60 percent (Rs 6 per share) and the date of payment of interim dividend will be August 26.At 09:47 hrs SRF was quoting at Rs 1,660, up Rs 121.90, or 7.93 percent on the BSE.Posted by Rakesh Patil