Buy SRF, target price Rs 2720: Edelweiss

Edelweiss has buy call on SRF Ltd. with a target price of Rs 2720. The current market price of SRF Ltd. is Rs 2532.45.
Time period given by analyst is Intra Day when SRF Ltd. price can reach defined target.

SRF Ltd., incorporated in the year 1970, is a Large Cap company (having a market cap of Rs 75033.05 Crore) operating in Diversified sector.


SRF Ltd. key Products/Revenue Segments include Chemicals (Industrial), Packaging Film, Textiles, Others for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3356.54 Crore, up 17.77 % from last quarter Total Income of Rs 2850.09 Crore and up 54.82 % from last year same quarter Total Income of Rs 2168.09 Crore. Company reported net profit after tax of Rs 505.54 Crore in latest quarter.

Investment Rationale
Broken out above its previous swing highs and registered a breakout on the momentum indicators.

Promoter/FII Holdings
Promoters held 50.73 per cent stake in the company as of 31-Dec-2021, while FIIs owned 19.09 per cent, DIIs 9.16 per cent.