Grasim is expected to report a standalone PAT of Rs 1,158 crore for the quarter, and standalone revenues of Rs 7,030 crore.
A cement-maker, a pharma firm and specialty chemicals company are among the top picks of broking firms for the new year
Deputy Commissioner of Income Tax (DCIT) has raised a demand for the assessment year 2018-19, Grasim Industries said in a regulatory filing.
Grasim Industries total expenses were at Rs 16,410.82 crore in Q2/FY 2020-21 as against Rs 17,039.30 crore in the year-ago period, down 3.68 percent.
Total expenses stood at Rs 12,860.78 crore in the quarter under review as against Rs 17,478.16 crore in the year-ago quarter.
Grasim Industries is a leading manufacturer in cement, viscose staple fibre and chemicals.
Total income during the quarter under review fell 1.17 per cent to Rs 19,447.57 crore as against Rs 19,678.76 crore in the corresponding period of the previous fiscal.
According to a regulatory filing by Grasim Industries Ltd, the holding of the various Group entities rose from 26.04 per cent (prior to the rights issue) to 27.18 per cent.
A positive opening is likely as Nifty Futures on Singaporean Exchange were trading over 13 points higher. The futures traded around 11,747-odd levels.
Going forward, the bias is expected to remain bearish. At the lower end, if Nifty sustains below 10,750, it may drift down towards 10660.
Mitessh Thakkar of miteshthacker.com recommends buying Larsen & Toubro and Grasim Industries.
Crest Steel and Power Pvt Ltd, a Topworth Group entity, emerged as the highest bidder for Bhaskarpara mine in Chhattisgarh which will fetch the government Rs 1,817 crore. Companies like JSPL were there in the race for the mine.