Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27.5 points or 0.23 percent. Nifty futures were trading around 10,842 - level on the Singaporean Exchange.
In the last three months, Grasim rallied nearly 19 percent, outperforming the Nifty that gained 8 percent in the same period
Soktas India Private Limited (SIPL) has presence in the premium fabrics segment under the brand name of SOKTA, Giza House and Excellence by SOKTA.
The company, which has inked a definitive agreement to acquire the business, said the transaction will be funded through internal accruals.
Meanwhile, Grasim Industries said its results are 'not comparable with the previous corresponding periods' due to merger of Binani Cement (now UltraTech Nathdwara Cement) in the company.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 19 points or 0.17 percent. Nifty futures were trading around 11,086-level on the Singaporean Exchange.
Traders can accumulate the stock in the range of Rs 820-830 for the target of Rs 760 with a stop loss below Rs 862, says Rupak De of Bonanza Portfolio.
Trends on SGX Nifty indicate that the index will open 87.50 points or 0.81 percent lower in India
The outcome of the MPC committee was the driving factor behind the small recovery which we saw in the market. The RBI maintained the status quo on its crucial repo and reverse repo rates.
"An order has been secured from Hindustan Zinc for the construction of an 1.5 MTPA (million tonne per annum) lead-zinc beneficiation plant at R D Mines, Rajasthan...," the company said in a statement.
It had posted a net profit of Rs 799.03 crore during the July-September period of last fiscal, Grasim Industries said in a BSE filing.
Morgan Stanley is Overweight on Grasim with a target price at Rs 1,329 per share as outlook for the VSF business remains constructive.
Grasim said in a regulatory filing that its total income during the quarter under review stood at Rs 17,089.65 crore, as against Rs 11,222.17 crore in the year-ago period.
Aditya Birla Group Chairman Kumar Mangalam Birla has internally announced that Himanshu Kapania will join board of Grasim Industries as a non-executive director and be the vice-chairman of Grasim
Century Textiles and Industries (CTIL) in May this year announced plans to demerge its cement business into Aditya Birla group firm UltraTech Cement.
Net Sales are expected to increase by 67.4 percent Y-o-Y (down 0.4 percent Q-o-Q) to Rs. 4,588.9 crore, according to Kotak.
"Nifty is heading towards 10430-10480 levels i.e. 100 and 50 SMA respectively. It might face minor hurdle around 10375 zones," says Rajesh Agarwal of AUM Capital.
It has received green nod for expanding the production of viscose staple fibre and captive power at Kharach unit in Bharuch, Gujarat, that would entail an investment of Rs 1,800 crore.
Mitessh Thakkar of miteshthacker.com is of the view that one can sell Grasim Industries and can buy Hindustan Zinc.
The proposed project is expected to be commissioned by the financial year 2021.
Rajat Bose of rajatkbose.com is of the view that one can buy Voltas and can sell Grasim Industries and Adani Ports.