As Finance Minister Nirmala Sitharaman announced the Union Budget 2019, Share price of Grasim Industries fell by 0.38 percent to open at 943 points. The price closed at 938.05.
Grasim Industries is the flagship company of the Aditya Birla Group. The company’s businesses comprise viscose staple fibre, cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.
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The BSE group ‘A’ stock of face value Rs 2 has touched a 52-week high of Rs 1,091.65 on 29 August 2018 and a 52-week low of Rs 688.65 on 15 February 2019. Grasim shares have fallen over 6% in the last one year compared with a 12% rise in the benchmark Nifty 50 index.
Grasim Industries reported a rise of 20.94% in its net profit at Rs 451.24 crore for the quarter ended March 2019 as compared to Rs 373.12 crore for the same quarter in the previous year.
Total income increased by 15.85% to Rs 5,453.54 crore for the March quarter as compared with Rs 4,707.53 crore for the corresponding quarter previous year. The promoters holding in the company stood at 40.15%, while Institutions and Non-Institutions held 38.67% and 18.38%, respectively.
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