Grasim Industries was almost flat at Rs 3401 at 9:25 IST on BSE after the company said production at its staple fibre plant at Nagda have resumed in a phased manner.
The announcement was made before trading hours today, 23 June 2015.
Meanwhile, the BSE Sensex was down 20.36 points, or 0.07%, to 27,709.85.
On BSE, so far 259 shares were traded in the counter, compared with an average volume of 7,309 shares in the past one quarter.
Trading in the stock was volatile. The stock rose 0.39% at the day's high of Rs 3,415.95 so far during the day. The stock fell 0.25% at the day's low of Rs 3,394.25 so far during the day.
The stock hit a 52-week high of Rs 4,023.60 on 3 March 2015. The stock hit a 52-week low of Rs 3,173.25 on 4 August 2014.
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The stock had underperformed the market over the past one month till 22 June 2015, falling 6.57% compared with 0.81% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 5.85% as against Sensex's 1.88% fall.
The large-cap company has an equity capital of Rs 91.85 crore. Face value per share is Rs 10.
Grasim Industries announced that with the onset of monsoon, the availability of water has improved and accordingly the production at the company's staple fibre plant at Nagda will start in phased manner. Earlier, Grasim Industries had on 24 April 2015 announced phased shut down of the staple fibre plant at Nagda due to water shortage caused by deficient rains.
Grasim Industries' consolidated net profit fell 25.4% to Rs 506.68 crore on 4.48% rise in total income to Rs 8929.23 crore in Q4 March 2015 over Q4 March 2014.
Grasim Industries, a flagship company of the Aditya Birla Group, started as a textile manufacturer in 1948. Today its core businesses are Viscose Staple Fibre (VSF) and cement, contributing over 90% of its revenues and operating profits. It is also present in chemicals which is essentially a backward integration of VSF.
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