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Grasim stock rallies upward, ahead of board meet on May 16

The Mumbai-based Indian building materials manufacturing company, Grasim Industries Limited’s stock is in focus in the morning hours on Monday.
The stock witnessed traded volume of 3,94,386 shares with traded value of Rs 45.97 cr. The stock touched its fresh 52-week high of Rs 1178.6 per share, up by 4.3%. The stock is firmly trading above its volume weighted average price of Rs 1165.83 per share. The stock witnessed nearly 48.45% deliverable quantity of total traded quantity in Friday’s trading session.
In the past one month, the stock has given returns of around 11%.
The company recently declared that its board meeting will be held on May 16, 2017, wherein the directors would consider the financial statements for the financial year ended March 31, 2017, and also the recommended dividend.
The D-street investors expect healthy growth in the financial statements of Grasim Industries Limited for the financial year ended March 31, 2017.
Stock View:
Grasim Industries Ltd is currently trading at Rs 1175.2, up by Rs 46.25 or 4.1% from its previous closing of Rs 1128.95 on the BSE.
The scrip opened at Rs 1132.3 and has touched a high and low of Rs 1178.8 and Rs 1132.3 respectively. So far 485399(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 52706.41 crore.
The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 1152 on 20-Apr-2017 and a 52 week low of Rs 781.8 on 21-Nov-2016. Last one week high and low of the scrip stood at Rs 1152 and Rs 1051 respectively.
The promoters holding in the company stood at 31.27 % while Institutions and Non-Institutions held 44.56 % and 24.17 % respectively.
The stock is currently trading above its 50 DMA.