SRF

As of 2026-11-06, SRF (₹2,460.4) exhibits a mixed technical profile where short-term resilience clashes with medium-to-long-term bearish structure. The daily trend is established (ADX 26.53) and price holds above the 20-period EMA and SMA, yet it remains below the 50-period EMA, 200-period SMA, and Supertrend, signaling underlying weakness. On weekly and monthly horizons, the setup is uniformly bearish, with price trading below all major moving averages and the Supertrend, accompanied by weak trend conviction (weekly ADX 19.15; monthly ADX 11.83). Price sits in the upper-middle of its 50-day range (+60.1%) but near the top of its 20-day range (+78.9%), suggesting limited immediate upside room. Resistance is dense at ₹2,464.1 (0.15% above) and ₹2,485.9 (pivot), while support lies at ₹2,443.2 (0.70% below). The stock carries significant risk, evidenced by a current drawdown of -25.1%, annualized volatility of +30.2%, and a YTD return of -19.5%. A recent moderate downward anomaly on high participation on 2026-11-06 highlights active selling pressure without clear directional follow-through. Confirmation of a sustained recovery would require a decisive break above ₹2,485.9 and a move back above the weekly/monthly moving averages; failure to hold ₹2,443.2 could expose further downside toward ₹2,429.8.

On November 5, 2026, SRF Limited informed the National Stock Exchange that its Registrar and Share Transfer Agent (RTA), KFin Technologies Limited, will relocate its corporate office effective December 1, 2026. The company clarified that this change is limited to the RTA’s physical address; KFin’s name, registered office, and continued appointment as SRF’s RTA remain unchanged. This administrative update does not alter shareholder services or corporate governance structures.

In terms of market performance, SRF’s share price was recorded at ₹2460.4 on November 6, 2026, reflecting a decline from the previous close of ₹2485.0. No specific daily or weekly trend indicators were reported for this period.

SRF Limited reported strong financial performance for the half-year ended September 30, 2026, with consolidated Revenue from Operations rising 35% year-on-year to ₹4,904.2 Cr and Profit After Tax (PAT) increasing 51% to ₹509.1 Cr. Operational EBIT also grew 51% to ₹816.0 Cr. The company highlighted growth drivers including HFC volumes in Chemicals, upcoming PVDF commissioning in Q3 FY27, and record performance in Technical Textiles belting fabrics. In a separate regulatory matter filed on November 5, 2026, SRF disclosed that the Uttarakhand State Tax Officer imposed a penalty of ₹12,77,382 due to a clerical mismatch between a Delivery Challan and an E-way Bill. SRF paid the penalty under protest and intends to contest the demand legally, noting that GST was correctly discharged through the corresponding invoice.

SRF’s operating trajectory shows a sharp acceleration in top-line growth, with sales rising 35% year-on-year to ₹4,904 crore in Q2 FY2026-27 (Sep 2026). However, profitability contracted sequentially; net profit fell from ₹759 crore in Q1 to ₹509 crore in Q2, driven by a rise in expenses from ₹4,088 crore to ₹4,258 crore. This indicates that while demand is strong, margin expansion faced headwinds in the latest quarter.

Earnings quality remains robust, with Cash Flow from Operations (CFO) at ₹2,554 crore for FY2026, converting 90% of operating profit into cash. The balance sheet reflects an aggressive investment cycle: Capital Work-in-Progress (CWIP) grew to ₹2,122 crore and borrowings increased to ₹5,375 crore as of Sep 2026. Despite higher leverage, Return on Capital Employed (ROCE) improved to 15% in Mar 2026, suggesting efficient capital deployment so far. Institutional sentiment shifted positively, with DIIs increasing their stake to 22.5%, while FIIs reduced theirs to 15.2%.

The key dynamic is whether the recent expense surge stabilizes as new capacities come online. Investors should monitor if the company can maintain high sales growth without further margin erosion.

SRF (NSE) exhibits a pronounced bearish technical setup as of 6 November 2026, characterized by sustained downward momentum and significant price erosion. The stock closed at ₹2,460.40, down from its previous close of ₹2,485.00, with a market capitalization of approximately ₹73,661.57 crore. Technical indicators across daily, weekly, and monthly timeframes consistently signal weakness: the Supertrend is bearish on all three horizons, and negative slope readings in the 20-day and 50-day simple moving averages confirm a deteriorating trend structure. On the weekly chart, the minus directional indicator (25.67) significantly outweighs the plus directional indicator (14.93), highlighting dominant selling pressure.

Performance metrics reflect substantial underperformance over medium- to long-term periods. The stock has declined 15.1% over the past year and 19.5% year-to-date, while currently sitting in a drawdown of -25.1% against a maximum historical drawdown of -29.9%. High volatility, evidenced by an annualized volatility of +30.2% and an ATR of 2.45%, suggests elevated risk for holders. Immediate resistance lies near ₹2,464.10 (0.15% above), while support is tested at ₹2,443.20 (0.70% below). The convergence of these factors indicates a challenging environment for capital preservation.