Grasim Ind gains after resuming operations at Nagda plant

Grasim Industries rose 0.37% to Rs 4,604.60 at 9:24 IST on BSE after the company said that the operations have resumed at its staple fibre plant at Nagda in Madhya Pradesh in a phased manner with immediate effect.

The announcement was made after market hours yesterday, 4 July 2016.

Meanwhile, the BSE Sensex was down 20.43 points, or 0.07%, to 27,258.33.

On BSE, so far 110 shares were traded in the counter, compared with average daily volume of 8,192 shares in the past one quarter. The stock hit a high of Rs 4,609.10 and a low of Rs 4,599.95 so far during the day. The stock hit a record high of Rs 4,675.60 on 1 July 2016. The stock hit a 52-week low of Rs 3,242.05 on 26 February 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 6.46% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.55% as against Sensex's 9.63% rise.

The large-cap company has an equity capital of Rs 93.35 crore. Face value per share is Rs 10.

Grasim Industries had suspended production at the plant since 5 June 2016 due to water shortage. However, the availability of water has improved with the onset of monsoon, the company said.

On a consolidated basis, Grasim Industries' net profit rose 37.38% to Rs 696.09 crore on 13.69% rise in net sales to Rs 9896.43 crore in Q4 March 2016 over Q4 March 2015.

Grasim Industries' two main businesses are Viscose Staple Fibre (VSF) and cement.

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