Grasim Industries rises on planning to invest Rs 3,117 crore in existing businesses in FY23
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Grasim Industries is currently trading at Rs. 1688.40, up by 24.05 points or 1.45% from its previous closing of Rs. 1664.35 on the BSE.
The scrip opened at Rs. 1664.35 and has touched a high and low of Rs. 1691.00 and Rs. 1664.35 respectively. So far 6023 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1939.00 on 18-Jan-2022 and a 52 week low of Rs. 1276.90 on 17-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1691.00 and Rs. 1575.45 respectively. The current market cap of the company is Rs. 110580.53 crore.
The promoters holding in the company stood at 42.76%, while Institutions and Non-Institutions held 26.84% and 26.52% respectively.
Grasim Industries is planning to invest Rs 3,117 crore on its existing businesses in FY23. This investment would be towards capacity creation and modernisation of plants. The company's board has already approved a total capex of Rs 10,000 crore for the paints business, out of which Rs 605 crore has been spent till FY22. Additionally, the company has earmarked Rs 2,000 crore for the B2B e-commerce business.
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
