Grasim Industries gains on receiving nod for Rs 1,800 crore expansion project

27 Feb 2018

Grasim Industries is currently trading at Rs. 1183.85, up by 2.40 points or 0.20% from its previous closing of Rs. 1181.45 on the BSE.

The scrip opened at Rs. 1189.00 and has touched a high and low of Rs. 1201.00 and Rs. 1182.40 respectively. So far 6,852 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1299.90 on 03-Nov-2017 and a 52 week low of Rs. 782.30 on 01-Mar-2017.

Last one week high and low of the scrip stood at Rs. 1201.00 and Rs. 1100.15 respectively. The current market cap of the company is Rs. 77,890.00 crore.

The promoters holding in the company stood at 40.10%, while Institutions and Non-Institutions held 39.91% and 16.62% respectively.

Grasim Industries has received nod for expanding the production of viscose staple fibre (VSF) and captive power at Kharach unit in Bharuch in the state of Gujarat that would entail an investment of Rs 1,800 crore.

The company is planning to raise the production capacity of VSF from 1,27,750 tonne per annum (TPA) to 2,33,600 TPA, while that of the captive power plant from 25 MW to 45MW. It wants to expand its VSF production capacity to meet the increased demand of man-made fibres in India.

The company’s Birla Cellulosic unit has received approval for expansion of its Kharach plant and it will undertake the proposed expansion within the existing plant area in 242.81 hectare.

Grasim Industries is the flagship company of the Aditya Birla Group. The company’s businesses comprise viscose staple fibre, cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.

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Grasim Industries Share Price

1416.10 0.00 (0.00%) May 05, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323