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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Grasim Industries Limited    GRASIM   INE047A01021

GRASIM INDUSTRIES LIMITED

(GRASIM)
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Sensex, Nifty end lower as market shrugs off new stimulus measures

11/12/2020 | 05:38am EST
Broker looks at computer screen while trading at stock brokerage firm in Mumbai

BENGALURU (Reuters) - Indian shares snapped an eight-day winning streak on Thursday as investors sold off banking and financial stocks, despite Finance Minister Nirmala Sitharaman announcing a new set of stimulus measures and sounding optimistic on the state of the country's economy.

The NSE Nifty 50 index closed 0.46% lower at 12,690.8 and the S&P BSE Sensex fell 0.54% to 43,357.19.

Sitharaman said the economy was seeing a strong recovery taking root, before announcing a scheme to incentivise the creation of new jobs and a credit guarantee support for stressed sectors, among other measures.

However, analysts said that while the stimulus measures did provide some support to the real estate sector, there was not much meat in Sitharaman's announcement to help markets continue their rally.

"Investors were not expecting much from this stimulus announcement other than some incremental measures for specific sectors," said Samrat Dasgupta, chief executive at Esquire Capital Investment Advisors.

"There was nothing that would move the needle for India Inc as a whole."

The Nifty's banking index snapped an eight-session rally that saw it gain over 20% as of Wednesday's close, compared to about 9% gain in the Nifty during the same period. The Nifty financials index fell about 1%

"The markets have run-up too much and its time they took a pause," Dasgupta said.

India's top lender, State Bank of India, slid 3.2% and was the session's top drag on the Nifty. Kotak Mahindra Bank fell 2.9%.

Miner Coal India, which reported a lower September-quarter profit on Wednesday, declined 3% on Thursday.

Grasim Industries was the top gainer, rising nearly 3%.

India will report its retail inflation data for October later in the day. A Reuters poll showed the number is likely to stay above 7% for a second straight month, lowering the chances of further interest rate cuts by the central bank.

(Reporting by Derek Francis in Bengaluru; Editing by Vinay Dwivedi)

By Derek Francis


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF INDIA LIMITED -3.50% 51 End-of-day quote.4.83%
COAL INDIA LIMITED -3.02% 133.2 Delayed Quote.-1.66%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.98% 137.2 End-of-day quote.-2.21%
GRASIM INDUSTRIES LIMITED -1.29% 1004 Delayed Quote.8.21%
KOTAK MAHINDRA BANK LIMITED -1.48% 1831.2 End-of-day quote.-8.23%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 2.15% 116.55 End-of-day quote.1.02%
NIFTY 50 -1.50% 14371.9 Delayed Quote.2.79%
SENSEX 30 -1.50% 48878.54 Real-time Quote.3.92%
STATE BANK OF INDIA -3.78% 283.7 Delayed Quote.3.18%
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Financials
Sales 2021 759 B 10 402 M 10 402 M
Net income 2021 31 660 M 434 M 434 M
Net Debt 2021 812 B 11 132 M 11 132 M
P/E ratio 2021 28,6x
Yield 2021 0,07%
Capitalization 659 B 9 032 M 9 033 M
EV / Sales 2021 1,94x
EV / Sales 2022 2,18x
Nbr of Employees -
Free-Float 58,0%
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Technical analysis trends GRASIM INDUSTRIES LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 895,18 INR
Last Close Price 1 004,00 INR
Spread / Highest target 7,87%
Spread / Average Target -10,8%
Spread / Lowest Target -42,2%
EPS Revisions
Managers and Directors
NameTitle
Dilip Roopsingh Gaur Managing Director & Executive Director
Hutokshi R. Wadia President, Secretary & Compliance Officer
Kumar Mangalam Birla Non-Executive Chairman
Vinod Tiwari Chief Operating Officer-Pulp Business
Ashish Adukia Chief Financial Officer
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