Grasim Industries rose 0.76% to Rs 3,286.80 at 12:12 IST on BSE after the company commenced commercial production at Greenfield Viscose Staple Fibre plant at Vilayat in Gujarat.
The announcement was made during market hours today, 31 July 2014.
Meanwhile, the S&P BSE Sensex was down 14.62 points or 0.06% at 26,072.80
On BSE, so far 3,977 shares were traded in the counter as against average daily volume of 12,450 shares in the past one quarter.
The stock hit a high of Rs 3,302.55 and a low of Rs 3,245 so far during the day. The stock had hit a 52-week high of Rs 3,755 on 9 June 2014. The stock had hit a 52-week low of Rs 2,121 on 4 September 2013.
The stock had underperformed the market over the past one month till 30 July 2014, falling 4.85% compared with 2.65% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, surging 24.81% as against Sensex's 16.37% rise.
The large-cap company has equity capital of Rs 91.83 crore. Face value per share is Rs 10.
Grasim Industries said that commercial production at the company's Greenfield Viscose Staple Fibre (VSF) plant at Vilayat in Gujarat has commenced with the commissioning of 2 lines with a capacity of 77,000 metric tonnes (MT) per annum of Grey/Dyed Fibre. The work on the remaining 2 lines to produce Modal/Micro Modal Fibre is at an advanced stage of commissioning. On completion, the capacity at Vilayat plant will increase to 1.2 lakh MT per annum, Grasim Industries said.
Grasim Industries will declare its Q1 results on 2 August 2014. The company's consolidated net profit fell 16.9% to Rs 679.27 crore on 5.7% growth in total income to Rs 8547.02 crore in Q4 March 2014 over Q4 March 2013.
Grasim Industries, a flagship company of the Aditya Birla Group, started as a textile manufacturer in 1948. Today, its core businesses are 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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