Buy recommendation spruces up SRF Polymer

DALAL STREET SPIKES

The shares of SRF Polymer reached a high of 64 during intra-day trades after Kotak Securities put out a 'buy' recommendation on the scrip.

The scrip opened at Rs 60, and a low of Rs 58 before closing at Rs 60.30, up by 8.9 per cent. Volumes in the counter were also fairly high with over 15 lakh shares changing hands.

On the previous day also the scrip price had closed up 20 per cent at Rs 81.40, which is a multi-year high. Volumes were also huge on that day. In fact volumes have been much higher than normal in the counter during the last two days.

SRF Polymers manufactures industrial synthetics, coated fabrics, belting fabrics, polyester films, refrigeration gases and pharmaceutical intermediates, and pharma contract research and manufacturing.