SRF hits lifetime high on carbon credit sale

DALAL STREET SPIKES

The SRF Ltd scrip hit its life time high of Rs 346 to finally close at Rs 343.50, 8.31 per cent high as compared with its previous close of Rs 317.15 with 51.5 lakh shares traded at the Bombay Stock Exchange (BSE) today.

The company's potential to generate substantial revenue from sale of carbon credits boosted the scrip price by 317 per cent from Rs 82.35 on 29 March 2005 to 343.50 on 20 Sept 2005.

For the quarter ended June 2005 , the company reported 96 per cent rise in net profit to Rs 23.70 crore and net sales rose 49 per cent to Rs 318.20 crore.