Multibagger stock to buy: The shares of brokerage firm SRF Limited are bullish. The company has made profit in the quarter ended March 2022. At the same time, long-term investors have made huge profits by investing in this stock. In the last 20 years, this stock has given a return of about 59,000 percent. The company’s shares rose from Rs 3 to Rs 2244 per share during this period.
The price was Rs 3.79 on 10 May
The company’s shares on the NSE were at a level of just Rs 3.79 per share on May 10, 2002, which has now increased to Rs 2,244 per share. During this period it has given a strong return of 59108.44% to its investors. That is, if an investor had invested Rs 1 lakh in this stock and had maintained his investment till now, he would have made a profit of Rs 7.48 crore as of today.
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Experts are bullish on this stock
On Wednesday, the stock closed 6 per cent higher at Rs 2,239.25 on the BSE against its previous close of Rs 2,111.90. The market cap of the company increased to Rs 66,376.08 crore. Yes Securities is bullish on SRF stock. The brokerage firm has said in its note that this chemical company is in profit. Strong YoY growth during the quarter was primarily driven by strong earnings from the Chemicals business.
ICICI Securities said the company has a strong capex plan of Rs 25-27 billion for FY23. The chemicals segment will receive the maximum capital expenditure of Rs 17-18 billion, of which Rs 11-12 billion will be in the fluorocarbons business. This ensures over 45 per cent EBIT growth for the chemical business (on a higher basis) in FY23 as well. Also, the packaging films and technical textile margins are expected to soften in FY13.
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Here is the target price
ICICI Securities has increased the target price of SRF Limited shares to Rs 2,310. Earlier its target price was Rs 2,141. SRF registered a growth of 59 per cent in consolidated net profit to Rs 606 crore on a 36 per cent growth in revenue in Q4 FY22 over the same period last year.