Aditya Birla Group firm Grasim Industries Limited on Wednesday said it agreed to buy fabrics manufacturer Soktas India Private Ltd for an enterprise value of Rs 165 crores. The equity valuation of the acquired company was not disclosed, nor did Grasim reveal how much it would pay as part of the transaction. The Kolhapur-based company, […]
The Aditya Birla Group said it got the approval of the Company Law Tribunal for the merger of Aditya Birla Nuvo Ltd and Grasim industries Ltd and the listing of Aditya Birla Financial Services Ltd. The approval was obtained from the Ahmedabad bench. “The approved Scheme has been filed with the BSE and the NSE. […]
Grasim has reported a 64% growth in profit for April-June quarter on strong performance of their Viscose Staple Fibre (VSF) subsidiary. Increase VSF demand and low inventory in China were the major reason for growth, said the company. Cement subsidiary UltraTech’s profit rose to 29% from Rs. 604 crores for the same period the previous […]
