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Shares of SRF jumped on upbeat December quarter results. The stock rose as much as 6.4 per cent to Rs 1,889.40. The stock posted biggest intraday percentage gain since November 2017.
The company had on Wednesday reported a 21 per cent jump in December quarter consolidated profit.
Citi has raised the target price to Rs 2,070 from Rs 1,764. It says early signs of recovery in speciality chemicals business are now visible. It adds that the company has reported “strong’’ quarter with fairly broad-based growth.
Up to Wednesday’s close, the stock was down 10.4 per cent this year.
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