BAJAJ BROKING
Birla Group raises its stake in Grasim by 4.09%, now holding 23.18% of the company. Grasim reports a 39% growth in consolidated net profit to ₹1,908 crore and a 13% increase in revenue to ₹37,727 crore for the Q4 FY2024.
Birla Group Holdings Private Limited (BGHPL), a promoter of Grasim Industries, has increased its stake in the company by 4.09%, as per an exchange filing on Tuesday. This raises Birla Group’s holding in Grasim to 23.18%, up from 19.10% at the end of the March quarter.
Additional Read: Aditya Birla Group
The additional stake acquisition by BGHPL occurred under a scheme of amalgamation. This involved the transfer of 2,67,46,262 fully paid-up equity shares and 10,63,204 partly paid-up equity shares of Grasim Industries held by Umang Commercial Company Private Limited to BGHPL.
Additional Read: Aditya Birla Q4 Result
Grasim Industries reported a substantial 39% growth in consolidated net profit to ₹1,908 crore for the quarter ended March 2024, excluding exceptional items. Revenue from operations also saw a significant increase of 13% year-on-year to ₹37,727 crore. The stock prices of Grasim Industries rose by 1.86% to ₹2,435.10 on the NSE.
Grasim CSF volumes grew 8% year-on-year to 208 KT, although revenue remained flat due to subdued realisations. Segment EBITDA sequentially increased by 15% to ₹462 crore, primarily due to lower input costs. The chemicals business achieved its highest-ever caustic soda sales volume of 308 KT in Q4FY24, despite a 13% decline in revenue to ₹2,083 crore.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here https//bit.ly/3Tcsfuc
Share this article:
NHPC Q2 Results FY24-25 Preview | Estimate
08 Nov, 2024 | 1 Min. read
Mahindra & Mahindra Raises Fy25 Tractor Growth Forecast Amid Strong Q2 Results
08 Nov, 2024 | 3 Min. read
Tata Power Partners with Noida Airport for ₹550 Cr Renewable Energy Project
08 Nov, 2024 | 3 Min. read
MOIL Achieves Record October Production with 1.47 Lakh Tonnes, Up 32% YoY
08 Nov, 2024 | 2 Min. read
Commodities Market Today | WTI, Brent Crude, Gold, and Silver See Gains in Market Prices
08 Nov, 2024 | 1 Min. read
Share Market Today | Gift Nifty Hints At Flat Start; Markets In Range-Bound Trend
08 Nov, 2024 | 4 Min. read
Fed Cuts Rate by 25 Bps to 4.5-4.75% to Support Cooling Economy
08 Nov, 2024 | 2 Min. read
Gold Rate Today | Gold Rises 1.5% To $2,715.30, Silver Gains 2.5% To $32.11
08 Nov, 2024 | 2 Min. read
RVNL Q2 Results FY24-25 Highlights
08 Nov, 2024 | 2 Min. read
MRF Q2 Results FY24-25 Highlights
08 Nov, 2024 | 2 Min. read
Nerolac Paints Q2 Results FY24-25 Highlights
07 Nov, 2024 | 1 Min. read
Trent Q2 Results FY24-25 Highlights
07 Nov, 2024 | 2 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading