Shares of this Aditya Birla Group stock under the ‘large-cap’ category slipped approximately 1.50 percent in Friday’s trading session after an International Entity sold a stake in the company via a Bulk Deal. Keeping the short-term movement aside, the company’s stock rose close to 20 percent for its holders in the last six months.
With a market capitalization of Rs 1.53 lakh crores, the stocks of Grasim Industries Limited started their trading session on Friday at Rs 2,279.45 and currently trade at Rs 2,246.90, slipping around 1.50 percent compared to the previous close of Rs 2,279.30 apiece. The scrip is inching towards its 52-week high price of Rs 2,317.80.
Such bearish stock price movements were observed today after an international entity sold a stake in the holding company.
As per the Bulk Deal data available with the National Stock Exchange (NSE), “Morgan Stanley Asia Singapore Pte”, on 4th April 2024, sold around 1.20 lakh equity shares of Grasim Industries Limited at an average trading price of Rs 1,041.23 per share.
During the recent financial quarters, Grasim Industries posted a stellar performance as far as the basic business parameters, viz, operating revenues and net profits are concerned.
The former rose from Rs 30,221 crores during Q2FY24 to Rs 31,965 crores during Q3FY24 and the latter, during the same period, took a drastic shift from Rs 2,024 crores to Rs 2,603 crores.
According to the latest shareholding pattern data available for the December 2023 quarter, the company’s Promoters hold a 42.75 percent stake, and the Foreign Institutional Investors (FIIs), marginally increasing their stake in the recent period, currently hold a considerable stake of 12.52 percent in the company.
Grasim Industries Limited is an Aditya Birla Group company that is engaged in the business of manufacturing cement and viscose staple fibre (VSF). The activities of the group fall under various segments including viscose, chemicals, cement, financial services, and others.
The company derives key revenue from the ‘cement’ segment covering products like grey cement, white cement, and allied products. Recently, the company has forayed into the paint business with aggressive investments in the industry.
Written by Amit Madnani
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