Shares of Grasim Industries Ltd. hit a record high on the first trading day of 2024 after it announced the commissioning of additional capacity at its Bharuch plant in Gujarat.
The company's plant will now have an additional 1.23 lakh tonne of annual advanced material capacity, taking the total capacity of the company to 2.46 lakh tonne per annum, according to an exchange filing. The expansion will facilitate the growth of the specialty chemical business, it said on Friday.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The board of the company is also scheduled to meet and discuss the right issue terms on Jan. 4.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Shares of the company rose as much as 1.88%, the highest since its listing on BSE on Jan. 7, 1957, before paring gains to trade 1.81% higher at 9:58 a.m. This compares to a 0.02% decline in the NSE Nifty 50.
The stock has risen 1.79% year-to-date. Total traded volume so far in the day stood at 2.8 times its 30-day average. The relative strength index was at 68.32.
Of the nine analysts tracking the company, seven maintain a 'buy' rating and two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an upside of 3.8%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
