Multibagger stock to buy: There is a tremendous rise in the shares of SRF today. The company’s shares are trading at Rs 2,731 with a gain of 4.05%. The SRF share price has grown at a CAGR of 76% in the last three years. Brokerage ICICI Securities believes that the company is preparing to expand its business into new and more complex sectors (like fluoro-chemistry). The brokerage house has given a buy rating on this multibagger stock and has set its target price at ₹3,065 per share.
Return of 152.43% in a year
Chemical stock has risen over 152.43% in a span of one year. Whereas this year in 2022 (Year-to-date or YTD) has grown by about 14%. The maximum return of this chemical stock is more than 1 lakh 32 thousand percent. Shares of SRF have increased from Rs 2.06 to Rs 2700 in 23 years. During this period, this stock has given a return of around 132,295.63% to long-term investors. That is, 23 years ago, investors who had invested Rs 1 lakh in this stock at the rate of Rs 2.06, would have made a profit of more than Rs 13 crore today.
The effect of this decision of the government
According to market experts, the Indian government has recently decided to ban the import of hydrocarbon fluoro chemicals. Only SRF produces this chemical in India. In such a situation, market analysts expect SRF to get new opportunities and there will be a strong rally in this stock.