SRF jumps up over 7%

SRF is the top gainer on the BSE, going up to Rs.1436.90 intra day, up over 7%. It currently remains firmly in the green, with its 52-week high at Rs.1495.55.

Yesterday,  the Finance Ministry  imposed definitive anti-dumping duty on R-134a, an inert gas, imports from China.

R-134a – also called as tetrafluoroethane - is used primarily as a high temperature refrigerant for domestic refrigeration and automobile air-conditioners. It is also used in plastic foam blowing, as a cleaning solvent and as a propellant for the delivery of pharmaceuticals (e.g. bronchodilators), gas dusters, and in air driers, for removing the moisture from compressed air.

SRF is sole domestic producer of R-134a  and it had filed the petition seeking anti-dumping duty on 1,1,1,2 Tetrafluoroethane (or R-134a) imports from China. Thus obviously, this is great news for the company.