SRF Ltd observed a nearly 1 percent increase in early trade on January 2, following the operational commencement of an aluminum foil manufacturing facility by its subsidiary, SRF Altech Limited, at an investment of Rs 536 crore. Around 9:30 am, SRF stock was quoted at Rs 2,484 per share on the NSE.
SRF strategically established the wholly-owned subsidiary, SRF Altech, with the specific purpose of constructing an aluminum foil manufacturing facility. This facility has been successfully commissioned, now capitalized at a cost of Rs 536 crore. The move signifies SRF’s deliberate expansion into the realm of aluminum foil production, aligning with broader initiatives for diversification and growth.
The significant investment of Rs 536 crore underscores SRF’s confidence in the potential of the aluminum foil market. This development not only solidifies SRF’s position in the industry but also showcases its proactive approach to exploring new business avenues and staying ahead in a competitive market. The company officially disclosed these details in a filing with the exchanges on January 1.
