Share price of SRF falls as Nifty weakens

The return on equity (ROE) for the stock stood at 22.05 per cent. Traded volume on the counter stood at 12:09PM shares and turnover at Rs 1.13 crore around that time. The stock of SRF Ltd. quoted a 52-week high price of Rs 2864.35 and 52-week low prices of Rs 2002.5, respectively.

The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 1.24.

Promotor/FII Holding

Promoters held 50.73 per cent stake in the company as of 30-Sep-2022, while FIIs held 19.21 per cent and domestic institutional investors had 9.18 per cent.

Key Financials

The company reported consolidated sales of Rs 3760.52 crore for the quarter ended 30-Sep-2022, down 3.69 per cent from previous quarter’s Rs 3904.57 crore and down 31.94 per cent from the year-ago quarter’s Rs 2850.09 crore. Net profit after tax for the latest quarter stood at Rs 480.99 crore, up 25.77 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.

It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect “buy” or “sell” opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.