Yesterday, Grasim Industries clocked a 64% jump in the consolidated net profit to Rs 830.22 crore for the quarter ended June 30. The firm had reported a net profit of Rs 507.60 crore in the year-ago period. Total consolidated income of the company also went up by 9% to Rs 9,088.55 crore in June quarter from Rs 8,365.70 crore during the same quarter in FY16. The expenses were higher at Rs 7,500.41 crore against Rs 7,272,84 crore during the period under review.
Yesterday Grasim share price opened at Rs. 4,839 and closed with the drop at Rs. 4,539.60 with the traded volume of 612,244 shares.
The firm also announced that its board has approved the merger of Aditya Birla Nuvo (ABNL) and Aditya Birla Financial Services. Its board also approved the sub-division of shares of the firm from one equity share of face value Rs 10, each fully paid up, to five equity shares of face value Rs 2 each fully paid up. The split is also requisite to the approval. Overall, Grasim Industries said has improved globally in viscose stable business environment. The company will continue to focus on intensifying the VSF market in India by collaborating with the textile value chain and better customer connect through Liva brand. Enriching product mix through larger share of specialty fiber in the portfolio will be yet another spotlight area. The demand for caustic in India is expected to increase with the growing demand from the end user industry. To meet this requirement, caustic capacity is being raised by 208,000 TPA through brown field expansion at Vilayat (Gujarat) and de-bottlenecking at other plants.
Today, Grasim share price has been slipping like the sands in the fist. The stock opened at Rs. 4,442.05 against its previous close of Rs. 4,539.60. Grasim share price is currently trading at Rs. 4,528.05 with the green turning red, flagging at the drop of 0.25%. Grasim is among top 500 performing stocks according to Dynamic Levels. For more details on the stock, visit Grasim share price history page of the website.
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