Grasim Industries rose 1.19% to Rs 919.10 at 09:35 IST on BSE after consolidated net profit surged 58.95% to Rs 1144.57 crore on 20.19% rise in total income to Rs 21386.32 crore in Q4 March 2019 over Q4 March 2018.
The result was announced after market hours on Friday, 24 May 2019.Meanwhile, the S&P BSE Sensex was up 111.09 points or 0.28% at 39,545.81
On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 80,000 shares in the past two weeks. The stock had hit a high of Rs 930.55 and a low of Rs 896.70 so far during the day.
The board of directors of Grasim Industries has considered and approved the Scheme of Amalgamation of Grasim Premium Fabric (formerly known as Soktas India), a wholly owned subsidiary of the company.
In its outlook, Grasim Industries said that the VSF business will continue to focus on expanding the market in India by partnering with the textile value chain, achieving better customer connect through its brand LIVA, extensions into new categories and enriching the product mix through a larger share of specialty fibre. The chemical business is under an expansion mode for both chlor-alkali and specialty chemicals.
Grasim Industries has a leadership positions in cement, viscose staple fibre, financial services and chemicals businesses.
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