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Kesoram Inds board to mull fund raising

Capital Market 

The board of Kesoram Industries will consider fund raising on Thursday, 14 January 2021.

A meeting of fund raising committee followed by a meeting of board of directors of the company is scheduled on Thursday, 14 January 2021, to seek de novo approval for raising funds including through the issue of optionally convertible debentures since the previous special resolution for this purpose passed on 28 December 2020 could not be implemented within the timeline of 15 days.

Kesoram Industries' reported a consolidated net profit of Rs 6.25 crore in Q2 FY21 as compared to a net loss of Rs 133.58 crore in Q2 FY20. Net sales during the quarter declined 20% year-on-year (Y-o-Y) to Rs 649.50 crore.

Shares of Kesoram Industries rose 0.73% to Rs 61.95.

Kesoram Industries is engaged in cement and automobile tire business. The firm markets its automobile tires under the brand name Birla Tyres and it markets cement under Birla Shakti brand.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, January 12 2021. 11:02 IST