SRS surges on the BSE

SRS Ltd. | Retailing | Retail | BSE: 533569 | NSE: SRSLTD

19 Nov 2012 Evaluate

SRS is currently trading at Rs. 38.75, up by 0.65 points or 1.71% from its previous closing of Rs. 38.10 on the BSE.

The scrip opened at Rs. 38.90 and has touched a high and low of Rs. 39.65 and Rs. 38.15 respectively. So far 143166 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 48.40 on 11-Sep-2012 and a 52 week low of Rs. 26.10 on 17-May-2012.

Last one week high and low of the scrip stood at Rs. 39.35 and Rs. 36.00 respectively. The current market cap of the company is Rs. 539.75 crore.

The promoters holding in the company stood at 74.04% while Institutions and Non-Institutions held 8.69% and 17.27% respectively.

In a bid to expand its footprints across cities like Bhiwadi, Shimla and Lucknow, SRS Cinemas, part of SRS, is planning to open 18 screens by the end of this fiscal. Following the opening of these screens, the total count will increase to 51 screens. The expansion would entail an investment of about Rs 25 crore, which would be funded through internal accrual.

At present, the company has 33 screens across places like Faridabad, Bijnor and Gorakhpur. It has already signed up for locations like Bhiwadi, Shimla, Amritsar, Lucknow and Shahadara (Delhi), which will come up this fiscal.

SRS is a diversified company with a business portfolio comprising of cinema exhibition, food and beverages, retail and manufacturing and retailing of jewellery. It sells a wide range of gold and diamond jewellery under the brand name of SRS Jewells.