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Stock 360: Tracking Grasim Industries

Updated : August 18, 2020 06:07 PM IST

Grasim Industries's stock was buzzing today in trade. It was up 7 percent, again a stock which has not done much movement this year and is in fact down 9 percent. But from the 52 week low it is up 75 percent and from the 52 week high it is down 20 percent.

The results of Grasim was wash-out, a washout quarter for the standalone entity. The VSF capacity already at 79 percent versus 48 percent and the commentary was positive. Also, its key holding UltraTech has seen a sharp rally.

Valuation is interesting because price-to-earnings is still expensive at 35 times, but price to book and EV to EBITDA perhaps there is some room.
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