Grasim share price: The results of the third quarter of Grasim Industries were not good. Profit in the company Q3 losses. The company incurred a loss of Rs 169 crore against the company’s Rs 236 crore. On an annual basis, the company’s revenue rose 26.9% to Rs 8,120 crore as against the company’s revenue in the same quarter of the previous year. The company’s Ebitda declined 48.2% to Rs 270.6 crore as against the company’s Ebitda in the same quarter of last year was Rs 522.6 crore. During this period, the company’s margin fell from 8.2 percent to 3.3 percent on a annual basis. This stock has come on the radar of brokerage houses today. Jefferies has given the opinion of shopping on this while Morgan Stanley has given an equal weight rating.
Grasim’s stock went into a red mark with the market shutdown yesterday. At the time of market closure, the stock fell 0.58 percent or Rs 14.35 to close at Rs 2473.25. Its highest level of 52 weeks was Rs 2877.75, while the minimum level of 52 weeks is Rs 1733.25.
Foreign brokerage firms Jefferies Grassim Industries have been bullied. Jeffers has given the opinion of shopping on Grasim. He has set the target of Rs 3150. He says that Ebitda in Q3 was less than anticipated. The weakening of the company’s VSF saw an impact on profits. On a quarterly basis, the company’s new business revenue witnessed a jump of 52%. The debt has increased due to paint capex reaching 90%.
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Morgan Stanley has given an equal weight rating on Grassim. Brokerage has fixed its target of Rs 2950. He says that Q3 Ebitda was less than anticipated. Its paint segment saw good demand. Caustic soda sales volumes have seen an increase of 1% on an annual basis. Caustic soda sales have seen 4% more than the volume estimate. The company has expanded the product portfolio
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