Grasim Industries turns volatile after Q2 results

Grasim Industries rose 0.8% to Rs 3,407 at 13:49 IST on BSE after consolidated net profit declined 7.53% to Rs 416.38 crore on 15.64% growth in total income to Rs 8047.91 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced during market hours today, 29 October 2014.

Meanwhile, the S&P BSE Sensex was up 157.63 points or 0.59% at 27,038.45.

On BSE, so far 19,000 shares were traded in the counter as against average daily volume of 9,272 shares in the past two weeks.

The stock was volatile. The stock rose as much as 2.04% at the day's high of Rs 3,449 so far during the day. The stock lost as much as 1.32% at the day's low of Rs 3,335 so far during the day.

The merger of Gujarat Cement Units of Jaypee Cement Corporation (JCCL) with UltraTech Cement (UltraTech), a subsidiary of Grasim Industries, has become effective from 12 June 2014 and accordingly the financial results of the acquired units have been included with the UltraTech's financial results with effect from 12 June 2014. As a result, figures for the quarter and six months ended 30 September 2014 are strictly not comparable with previous periods, Grasim Industries said.

Grasim Industries, a flagship company of the Aditya Birla Group, started as a textile manufacturer in 1948. Today, its core businesses are VSF and cement. It is also present in chemicals which are essentially a backward integration of VSF.

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