SRF Share Price Today Jumps 14% hitting 52-Week High Peak As Refrigerant Gas Prices Soar

In Thursday's trading session, SRF shares surged by 14%, reaching Rs. 2,693, driven by reports surrounding a hike in refrigerant gas prices. This impressive rally in SRF's stock price occurred despite broader market weakness, with major indices trading in the red zone.

At 12:45 PM, the Sensex stood at 77,722.65, having dropped 425.84 points, while the Nifty 50 index traded lower at 23,553.30, down by 135.65 points.

What is Causing the Rally in SRF Shares Today?

SRF shares surged by up to 14% on January 9, 2025, due to a significant rise in global refrigerant merchandise prices. This increase is linked to concerns about supply shortages of essential refrigerant gases, R32 and R125, which are crucial for the HVAC sector as per Livemint's latest report. As a result, SRF, along with Navin Fluorine, which is set to benefit from the rising demand and pricing of these gases, positively impacting their earnings.
As per a CNBC report, US gas distributors announced a price hike for refrigerant gases. IGas USA said that the supply of R32 and R125 has been impacted and prices will be increased by up to 200%.

SRF Shares Price Movement Lately

SRF shares have been on an impressive upward movement lately. Today, the stock opened at Rs. 2,500 and quickly surged to an intraday high of Rs. 2,697. As of the latest data, SRF's shares have risen by around 14% compared to the previous closing price. This marks a significant increase of 20% over the course of the week, signaling strong momentum. On a monthly basis, the stock has shown a 10% rise, and year-to-date (YTD), the surge stands at an impressive 18.49%.

SRF shares have delivered extraordinary returns to investors. Over the past five years, the stock has provided a remarkable 278% return. Even more striking is its all-time growth, which has reached a staggering 128,540.78%.

As of 12:45 PM on January 9th, SRF shares were trading at Rs. 2,655.45, reflecting a slight dip from their intraday peak. However, the stock reached a significant milestone today by hitting a 52-week high of Rs. 2,697.70, underscoring its robust growth potential.

About SRF Ltd

Established in 1970, SRF is a leading chemical conglomerate specializing in fluorochemicals, specialty chemicals, packaging films, technical textiles, and coated and laminated fabrics. The company is a major exporter with a market capitalization of INR 79.58 thousand crores. For the quarter ending September 2024, SRF reported a 7.77% year-on-year increase in revenue, reaching INR 34.24 billion. However, net income declined by 33.03%, totaling INR 2.01 billion, and EBITDA decreased by 13.26%, reaching INR 5.58 billion.