Sell SRF, target price Rs 2120: IIFL

IIFL has sell call on SRF with a target price of Rs 2120. The current market price of SRF is Rs 2235.5.
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 66278.26 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 31-03-2022, the company reported a Consolidated Total Income of Rs 3556.65 Crore, up 5.96 % from last quarter Total Income of Rs 3356.54 Crore and up 35.72 % from last year same quarter Total Income of Rs 2620.61 Crore. Company reported net profit after tax of Rs 605.65 Crore in latest quarter.

Investment Rationale
The stock has given a bearish flag breakdown

Promoter/FII Holdings
Promoters held 50.73 per cent stake in the company as of 31-Mar-2022, while FIIs owned 19.6 per cent, DIIs 8.71 per cent.