Grasim Industries slipped 0.86% to Rs 2528.60 at 10:14 IST on BSE even as the company said it has increased its stake from 25% to 45% in AV Cell Inc, a joint venture company in Canada for a total consideration of around Canadian dollar 6 million.
The stock hit a high of Rs 2550 and a low of Rs 2500 so far during the day. The stock had a 52-week high of Rs 4074 on
The company’s current equity is Rs 91.67 crore. Face value per share is Rs 10.
The current price of Rs 2528.60 discounts its Q3 December 2007 EPS of Rs 241.59, by a PE multiple of 10.47.
Following this, Aditya Birla Group's total stake in AV Cell has increased from 75% to 95%.
Grasim Industries’ net profit rose 34.6% to Rs 553.79 crore on 15.3% growth in net sales to Rs 2629.93 crore in Q3 December 2007 over Q3 December 2006.
The company is engaged in manufacturing and marketing cement, fibre and pulp, sponge iron, textile, chemicals and other.
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