Shares of SRF, a leading speciality chemicals manufacturer, are in the spotlight today on January 10, after the company issued a clarification regarding reports of a significant price hike by a US-based refrigerant gas distributor. In a regulatory filing, SRF clarified that the reported price increase pertains exclusively to the US market and does not directly impact its operations.
In its filing to the stock exchanges, SRF emphasised that price adjustments for refrigerant gases in its relevant market segments are driven by local supply-demand dynamics rather than external factors in the US. The company stated:
“The company considers it necessary to clarify to the Stock Exchanges that the reported price hike by a US refrigerant gas distributor is in the context of the US market. Changes in prices of refrigerant gases for SRF will remain a function of demand and supply in our relevant market segment.”
The clarification comes in response to reports of a steep price increase in the US for refrigerant gases. According to sources, US distributors have raised prices for certain refrigerants, with IGas USA reporting a price surge of up to 200% for gases such as R32 and R125. This sharp rise is attributed to supply chain disruptions affecting these products.
On January 10, 2025, SRF share price traded 3.56% lower at ₹2,577 at 9:48 AM (IST), while the BSE benchmark Sensex plunged 230.35 points to 77,389.86. SRF share price reached a 52-week high of ₹2,697.45 on May 03, 2024, and a 52-week low of ₹2,088.55 on June 04, 2024. As per BSE, the total traded volume for the stock stood at 0.25 lakh shares with a turnover of ₹6.40 crore.
At the current price, SRF shares are trading at a price-to-earnings (P/E) ratio of 67.42x, based on its trailing 12-month earnings per share (EPS) of ₹39.64, and a price-to-book (P/B) ratio of 7.27, according to exchange data.
As of September 30, 2024, Foreign Institutional Investors (FIIs) held an 18.30% stake in Zomato shares, while Domestic Institutional Investors (DIIs) owned 17.76%, and the promoters held 50.26%.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 10, 2025, 10:29 AM IST
Dev Sethia
Dev is a content writer with over 2 years of experience at Business Today, Times of India, and Financial Express. He has also contributed stories in Hindi for BT Bazaar and Khalsa Bandhan News Paper. A journalism postgraduate from ACJ-Bloomberg, Dev enjoys spending his spare time on the cricket pitch.
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