Grasim Industries seems on a comeback trail as the market reckons that the company's consolidation in L&T will hold it in good stead.
Grasim Industries has announced a rights issue of around Rs 4,000 crore with the promoters committed to fully subscribing to their entitlements and to covering any unsubscribed portion. This is to part-fund capital expenditure (capex) of Rs 10,000 crore in a new foray into the paints business. The company has already invested Rs 3,640 crore in the paints business (by Q1FY24). The management has outlined a capex of Rs 5,700 crore for FY24, which includes Rs 4,280 crore allocated for the paints business, of which Rs 1,050 crore has already been spent in Q1FY24.
A meeting of the board of directors of Grasim Industries Ltd is scheduled for January 27, 2003 to take on record the unaudited financial results (provisional) for the quarter ended December 31, 2002.\n\n\n\n
Kumar Mangalam Birla urged young people to 'build in India, build for India and build for the world'.
The AV Birla group flagship Grasim Industries has been an outperformer on the bourses. The company's stock price is up 56.5 per cent in the last
Hindustan Unilever (HUL) has topped the Perpetual Capital Hurun India Impact 50 - 2026 list with 53.9 points (on the scale of 0-100), reflecting a strong performance across key sustainable development goals (SDGs), including climate, water, circularity, gender and biodiversity.
India's fair trade regulator Competition Commission of India (CCI) has launched a formal investigation against India's biggest paints firm, Asian Paints, for alleged abuse of its dominant position in the organised decorative paints market, following a complaint by Aditya Birla group's Grasim Industries' Birla Opus Paints division.
Grasim sprang to its 52-week high at Rs 448 early today, after the company decided to move towards acquiring L&T's cement business that is proposed to be de-merged.
Both Grasim and L&T were boosted in early trades on Monday after Sebi cleared Grasim of charges of violating the Takeover Code while acquiring L&T.
Grasim Industries Ltd said it that since Larsen & Toubro Limited is contemplating consideration of the existing proposal before it to demerge its cement business, Grasim should also submit an alternate proposal.
Grasim Industries Ltd said Industrial Development Bank of India withdrew its nominee V Venkateswarlu from the companys board.
Indian Oil Corporation and Grasim Industries have jointly bagged the prestigious Rajiv Gandhi National Quality Award for 2003.
Chartered accountancy firm Lodha & Co has resigned as statutory auditor for Grasim Industries Ltd, a Aditya Birla group company, and city-based G P Kapadia & Co has been appointed as sole statutory auditors for the firm.
UltraTech said its board will meet on Tuesday to consider a proposal from Samruddhi Cement to merge the cement business of group with itself.
Grasim Industries Ltd has submitted an alternate proposal to Larsen & Toubro before the engineering major decides to demerge its cement business at its board meeting
Grasim Industries group has posted a 131.29 per cent rise in consolidated net profit at Rs 738.26 crore (Rs 7.38 billion) for the fiscal ended March 31, 2004, compared to Rs 319.18 crore (Rs 3.19 billion) in the previous year.
Grasim Industries Ltd, whose attempt to acquire larger conglomerate Larsen & Toubro Ltd has been delayed by regulators, has challenged L&T's plans to hive off its cement division, a spokeswoman said.
Grasim Industries, the leading cement maker of the A V Birla group, is not enthusiastic at a proposal to merge with its subsidiary, UltraTech, as it does not see value in the process at this stage.
Grasim Industries Ltd said it submitted an alternate proposal to L&T for a vertical demerger of L&T's cement business into a separate company
Grasim Industries has reported a 24 per cent increase in net profit at Rs 130.49 crore (Rs 1.3 billion) for the quarter ended June 30, 2003 when compared with Rs 105.47 crore (Rs 1.05 billion) in Q1FY03.
Larsen & Toubro Ltd will shortly file with the Bombay Stock Exchange its plans for a trust scheme for its employees to pick up 15 per cent stake of Grasim Industries Ltd.
Grasim Industries Ltd, an Aditya Birla group flagship company, has posted a 68 per cent rise in its net profit at Rs 219.2 crore for the first quarter ended June 30, 2004 as against Rs 130.5 crore in the corresponding quarter last fiscal.
Grasim Industries Ltd has posted a net profit of Rs 1329.50 million for the quarter ended December 31, 2002 as compared to Rs 898.60 million in the quarter ended December 31, 2001.
Investors would track a host of macroeconomic data announcements scheduled this week, including inflation numbers, and also monitor global market trends, and trading activity of foreign institutional investors, analysts said. The ongoing quarterly earnings announcements and the rupee-dollar trend would also influence the markets.
India's third biggest cement maker, Grasim Industries, said on Tuesday its January-March net profit, after taking into account extraordinary expenses, was Rs 4.9 million.
Grasim Industries Ltd has raised $50 million through a five-year loan at 93 basis points over the London Inter-Bank Offered Rate, or LIBOR, a spokeswoman for the company said on Friday.
Shares of paint companies faced pressure, falling up to 5 per cent on the BSE in Monday's (February 26) intraday trade amid concerns that Grasim Industries' entry into the paint sector will intensify the competition. Asian Paints reached a 10-month low of Rs 2,850, slipping nearly 5 per cent after brokerage firm CLSA downgraded the stock following the Birla Opus launch. The paint maker's stock traded at its lowest level since April 28, 2023.
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
In December, Aryaman Birla made a decision that would surprise many: he announced an 'indefinite sabbatical' from cricket.
With short-term rates firming up due to tight liquidity conditions, Indian corporates are opting to borrow long term to take advantage of the attractive rates by locking them in these uncertain times. The banking system has a liquidity deficit of over Rs 2 trillion. According to market participants, engineering conglomerate Larsen & Toubro (L&T) raised Rs 1,500 crore through 10-year bonds in December 2024.
JSW Paints, part of $23 billion JSW Group, on Friday said it will acquire majority controlling stake in Akzo Nobel India Ltd (ANIL), the maker of Dulux paints, for Rs 8,986 crore. It will acquire 74.76 per cent stake from its Dutch promoters/holding entities -- namely Imperial Chemical Industries and Akzo Nobel Coatings International BV -- for a consideration of Rs 8,986 crore, according to a statement from the JSW Group firm.
This is the case even though the benchmark index is only 5 per cent below its all-time high. The list of stocks trading at a discount primarily consists companies in the automotive, banking, oil and gas, insurance, healthcare, and metal sectors.
