Sell Grasim Industries

Grasim IndustriesStock analysts are of the view that investors can sell Grasim Industries with a target price of Rs 1729-1720.

According to them, interested traders can sell the stock below Rs 1750, with a stop loss of Rs 1780.

Today (April 29), the stock opened at Rs 1,805 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 210.60 and 8.64 respectively. The share price has seen a 52-week high of Rs 1934 and a low of Rs 984.10 on BSE.

The analysts also suggested that if the stock fell below Rs 1712, it may see more weakness. So the investors must sell the stock.

Grasim Industries Ltd has declared that the company will be publishing audited results for the fiscal ended March 31, 2009 by June 30, 2009.

Considering this, the company does not intend to publish un-audited results for the quarter ended March 31, 2009.

Grasim Industries, on March 30, commissioned its new 3.3 MTPA Clinkerisation facility at Kotputli in Rajasthan.

Grasim Industries Limited, a flagship company of the Aditya Birla Group, positions among India's biggest private segment companies, with consolidated net turnover of about Rs 170 billion and a consolidated net profit of Rs 29 billion (FY2008).

The company's key business is manufacturing of viscose staple fibre (VSF), cement, sponge iron, chemicals and textiles.

Grasim works in five sectors: fibre & pulp that comprises viscose staple fiber and rayon grade pulp; chemicals.

Its core businesses are VSF and cement, which contribute to over 90 per cent of its revenues and operating profits.

General: