This multibagger stock doubled shareholders’ money in one year, do you have it?


Multibagger Stock: Shares of SRF Limited have doubled investors’ money in the last 12 months. The stock rose 4 per cent to a high of Rs 2244.15 on the Bombay Stock Exchange (BSE) on Thursday. It has increased from Rs 1,005 to Rs 2,244.15. The large-cap stock has gained 123 per cent in the past one year and 96 per cent since the beginning of this year. With a market capitalization of over Rs 64,000 crore, the stock is trading higher than the 5 day, 20 day, 100 day and 200 day moving averages but lower than the 50 day moving averages.

The company reported a 21 per cent year-on-year (YoY) growth in its net profit at Rs 382.45 crore for the quarter ended September 2021. The profit in the year-ago period was Rs 315 crore. Net sales grew 35 per cent to Rs 2,838.97 crore in the September quarter from Rs 2,100.83 crore in the year-ago period.

Brokerage firm ICICI Securities said Q2FY22 print of SRF was not encouraging but from higher realizations in HFC (Ref-Gas) to strong margin expansion in chemical business, we expect even higher gains in H2FY22.

According to Marketsmojo, the company has declared positive results for 5 consecutive quarters and has a high institutional share of 29.6%. The stock is technically in a light bullish range. Many factors like MACD, Bollinger Bands, KST and Dow are bullish for the stock.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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