On Thursday the share price of the large-cap company fell by 1.5% to its intraday low of ₹2,036.2 from its previous close of ₹2,067.85 after Foreign institutional investors sold 2.87 Lakh equity shares through the bulk deal.
Citibank Na sold 2.87 lakh equity shares of Grasim-Re at an average price of ₹347.3 per share, totaling approximately ₹9.9 crores through a bulk deal, according to NSE data.
According to the company report, the net revenue increased by 10% year over year, from ₹27,486 crore in Q2FY23 to ₹30,221 crore in Q2FY24. Their revenue fell by 2.7% sequentially from ₹31,065 crore in Q1FY24 to the current levels.
In addition, the company’s net profit rose by 34% year over year, from ₹1,509 crores in Q2FY23 to ₹2,024 crores in Q2FY24. Their profit decreased by 21% on a quarterly basis from ₹2,576 crore in Q1FY24 to the current levels.
The company has a low price-to-earnings ratio of 21 compared to its competitors, with a return on equity ratio of 9%, a return on capital employed of 10%, and a net profit margin of 9%.
Grasim Industries Limited is a large-cap company with a market capitalization of ₹1,39,000 crores. The company’s share price has risen by 23% year to date and 16% during the previous six months.
The company promoters own 42.75% of the company, with foreign institutional investors owning 12.18%, the general public owning 30.16%, and domestic institutional investors owning 14.92%.
Grasim Industries Limited is a global manufacturer of viscose, diversified chemicals, linen yarn, and fabrics headquartered in India. The Company’s segments include viscose, chemicals, cement, financial services, etc. Viscose staple fiber, wood pulp, and viscose filament yarn are all parts of the Viscose segment.
Written by Sriram KV
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