Total revenues rose 28 per cent to Rs 372.2 crore in the period under review from Rs 291 crore in the quarter ended September 30, 2020. Also, the company has declared am interim dividend Rs 5.60 per share for 2021-22.
Established in 1970, SRF Ltd with an annual turnover of Rs 8,295 crore is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates.
"During Q2, the sale of cement is 2.71 million tons compared to 2.21 million tons in the corresponding period of the previous year with a growth of 23 per cent. The utilisation rate for Q2 is 74 per cent as against 70 per cent in Q2, based on clinker capacity," the company said in a post-earning statement.
"Gold prices traded higher with spot gold prices at COMEX trading 0.40 per cent up at USD 1,800 per ounce on Monday," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
“We have made sure that we leave a reasonable amount on the table so that no investor ever feels that they did not get the right deal, should there be volatility in the market.â€
“We have stayed away from excessively going down the unit-linked product path because our experience has been that if people do not understand the product well, then they could enter the markets at a high and then be somewhat disappointed.â€
Analysts have estimated net interest margin (NIM) to fall in the 3.4-3.5 range. All eyes are on slippages, restructuring and accounts rated BB or below.
The 30-share pack Sensex rose 145.43 points or 0.24 per cent to close at 60,967.05. Its broader peer NSE Nifty advanced 10.5 points or 0.06 per cent to 18,125.40. Broader markets continue to bleed.
The solid results by ICICI Bank made many brokerages believe the rerating on the counter will continue in coming quarters. All eyes are now on Karnataka Bank, RBL Bank, UCO Bank and SBI which will be disclosing theirquarterly results in the coming days.
"People are saying it does not matter whether it is a PSU bank or private sector bank; at the end of the day if you are looking at a three- five-year growth timeframe. Let us pick and choose high quality managements and reward them with higher valuations."
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