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SRF Ltd, a manufacturer of chemical-based industrial intermediaries, gained as much as 5 per cent in early trade on Wednesday.
At 10.17 am, the stock was up 3.17 per cent or Rs 32.25 at Rs 1,051.
Edelweiss Securities has started coverage with "buy" rating.
Capacity expansion in specialty chemicals would lead to strong earnings growth of 28 pct CAGR over FY15-17 and re-rating in the stock, Edelweiss has said.
It added that SRF was an attractive play for its strong brand equity, high business entry barriers, sound management, healthy balance sheet and improving return ratios.
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