SRF shares drop 0.67% as Sensex falls

Shares of SRF Ltd. traded 0.67 per cent lower in Friday's session at 10:15AM (IST). The stock opened at Rs 2279.9 and has touched an intraday high and low of Rs 2296.45 and Rs 2267.35, respectively, during the session so far.

The stock quoted a 52-week high of Rs 2864.35 and a 52-week low of 2002.5. About 2,320 shares changed hands on the counter so far.

Benchmark Nifty50 was down 169.95 points at 17957.4, while the BSE Sensex traded 552.82 points lower at 60273.4 at the time of writing of this report.

In the Nifty pack, 6 stocks traded the day in the green, while 44 were in the red.


Key Financials
For the quarter ended 30-Sep-2022, the company reported consolidated sales of Rs 3760.52 crore, down 3.69 per cent from the previous quarter's Rs 3904.57 crore and down 31.94 per cent from the year-ago quarter. The company reported net profit of Rs 480.99 crore for the latest quarter.

Promoter Holdings
Promoters held 50.53 per cent stake in the company as of 30-Sep-2022, while FIIs held 19.21 per cent and MFs 9.21 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 2423.85 on December 23, while the 50-DMA was at Rs 2410.49. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.