Grasim Industries surges over 5% as scrip gets included in MSCI India Index

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NEW DELHI: Shares of Grasim Industries surged over 5 per cent in trade on Friday after the US index provider MSCI included the scrip to its India Index. This was the only addition to the index in the rejig that took on Thursday. The changes will be reflected from March 1.

The scrip was trading 3.96 per cent up at Rs 1010.40 at 10:33 am. Shares of the company opened at Rs 1,010.30 and touched a high and low of Rs 1,023.80 and Rs 1,000, respectively, in trade so far. Benchmark BSE Sensex was trading 50 points up at 28,384.57.

For the quarter ended December 31, 2016, the company reported a net profit of Rs 728.19 crore, up 13.69 per cent, against Rs 640.47 crore in the corresponding quarter last year. Net sales of the company jumped 1 per cent yoy to Rs 8495.36 crore during the quarter under review.

On BSE, so far 56,000 shares were traded in the counter as against average daily volume of 75000 shares in the past two weeks.

Shares of the company had hit their fresh 52-week high of Rs 1069.70 on August 5, 2016 and 52-week low of Rs 648.41 on November 21, 2016.