Stock market analysts have maintained ‘Buy’ rating on Grasim Industries stock to achieve an intraday target of Rs 2,220.
 
According to analysts, investors can buy the stock above Rs 2,194 with a stop loss of Rs 2,160. If the stock remains positive, the next intraday target should be above Rs 2,230.

Shares of the company, on Monday (June 01), closed at Rs 2,175.25 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 179.76 & 12.18 respectively. The share price has seen a 52-week high of Rs 2,355 and a low of Rs 831 on BSE.

Grasim Industries during the last month said that it has suspended production at its Nagda facility in Madhya Pradesh because of demand of water from one of its reservoirs by district management following lack of water in the region.

On May 19, Grasim Industries, an Aditya Birla Group Company and leading cement manufacturer, has announced Rs 13 billion capital expenditure (capex) for cement division during the existing fiscal for finishing its subsisting projects as well as up-gradation.

In 2008, the company spent Rs 14.67 billion as capex.

Grasim Industries, in March 2009, has licensed its new 3.3 MTPA Clinkerisation facility at Kotputli (Rajasthan).

Grasim’s major business activities include manufacturing of viscose staple fibre (VSF), cement, sponge iron, chemicals and textiles.

The company works in five segments including fibre & pulp, which includes viscose staple fiber and rayon grade pulp; chemicals.