Grasim Industries soars on executing supplemental share subscription, power purchase agreement
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Grasim Industries is currently trading at Rs. 1716.20, up by 39.75 points or 2.37% from its previous closing of Rs. 1676.45 on the BSE.
The scrip opened at Rs. 1689.75 and has touched a high and low of Rs. 1720.70 and Rs. 1680.90 respectively. So far 12779 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,720.70 on 14-Oct-2021 and a 52 week low of Rs. 733.75 on 14-Oct-2020.
Last one week high and low of the scrip stood at Rs. 1720.70 and Rs. 1592.00 respectively. The current market cap of the company is Rs. 112101.34 crore.
The promoters holding in the company stood at 42.09%, while Institutions and Non-Institutions held 31.09% and 25.01% respectively.
Grasim Industries has executed a Supplemental Share Subscription agreement with Renew Green Energy Solutions (Renew) & Renew Surya Uday and Power Purchase Agreement with Renew Surya Uday (Power Producer). The purpose of entering into the agreement is to operate and maintain 16.68 MW Wind-Solar Hybrid power plant in the State of Gujarat (the Project) wherein the power generated will be supplied exclusively to Grasim under the Captive Rules. The Project will be operated by Renew Surya Uday (Power Producer).
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.
