Grasim Industries rises on planning to raise funds
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Grasim Industries is currently trading at Rs. 1999.00, up by 19.50 points or 0.99% from its previous closing of Rs. 1979.50 on the BSE.
The scrip opened at Rs. 1994.95 and has touched a high and low of Rs. 1999.00 and Rs. 1966.25 respectively. So far 818 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,998.90 on 12-Oct-2023 and a 52 week low of Rs. 1528.00 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1998.90 and Rs. 1875.00 respectively. The current market cap of the company is Rs. 130339.94 crore.
The promoters holding in the company stood at 42.75%, while Institutions and Non-Institutions held 29.13% and 24.24% respectively.
Grasim Industries is planning to raise funds by way of equity shares or other securities through rights issue, qualified institutions placement, preferential issue or any other method as may be permitted under the applicable law, subject to such regulatory / statutory approvals as may be required. The meeting of the Board of Directors of the Company is scheduled on October 16, 2023, inter alia, to consider and approve the same.
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.
