Grasim Industries is currently trading at Rs. 1055.25, up by 21.60 points or 2.09% from its previous closing of Rs. 1033.65 on the BSE.
The scrip opened at Rs. 1034.00 and has touched a high and low of Rs. 1057.30 and Rs. 1029.60 respectively. So far 23465 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1077.20 on 22-Feb-2017 and a 52 week low of Rs. 708.25 on 16-Mar-2016.
Last one week high and low of the scrip stood at Rs. 1057.30 and Rs. 995.50 respectively. The current market cap of the company is Rs. 49049.98 crore.
The promoters holding in the company stood at 31.28%, while institutions and non-institutions held 41.50% and 21.96% respectively.
Grasim Industries has proposed to increase foreign portfolio investors’ (FPI) investment limit to 45% from 30% to enhance its weightage in the indices floated by Morgan Stanley and other large global financial institutions. The move will attract fresh investment in the stock from large foreign pension funds which mimic the index for their investment strategy.
The current FPI investors in the company include Aberdeen Emerging Markets Fund, Aberdeen Global India Equity, New World Fund Inc and Citi Bank NA New York besides a clutch of foreign depositories.
Grasim Industries is the flagship company of the Aditya Birla Group. Starting as a textiles manufacturer in 1948, today Grasim’s businesses comprise viscose staple fibre (VSF), cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.