SRF rallies 6% after board approves capex plan worth Rs 238 crore

Shares of SRF hit a new high of Rs 3,962, rallied 6 per cent, on the BSE on Wednesday after its Board approved capital expenditure plan worth of Rs 238 crore.

“The Board has approved a proposal to set up dedicated facilities to produce intermediates catering to the agro-chemicals segment at an aggregate cost around Rs 238 crore,” SRF said in exchange filing. READ FILING HERE

The project proposes a capacity addition of 2150 MTPA (million tonnes per annum) within a period of 10 months, i.e., by the end of November, 2020. The project is being financed by a mix of debt