Grasim Industries

Grasim Industries Limited share price nosedived 3%

Grasim Industries Limited share price nosedived 3%

To begin with, the Grasim Industries Limited share price has dropped 3% in the morning trade today. Besides, the Competition Commission of India (CCI) imposed a penalty on the company.

Also, the CCI has passed an order of imposing a penalty of Rs 301.61 crores on the company. So then, this would remain concerning its domestic man-made fiber turnover.

While the company stated that it stood yet to receive the order of the CCI. It trusts that on merits it has sufficient ground for an appeal

However, Grasim company had quoted at Rs 561.30, down Rs 15.25. In other words, it stood low with 2.65% on the Bombay Stock Exchange.

Despite this, the share has reached its 52-week high of Rs 958.55 and its 52-week low of Rs 507.35 on 27th May 2019 & 13 Mar 2020 respectively.

Presently, it stood trading at 41.44% below its 52-week high and 10.63% above its 52-week low.

On the second consecutive day, the stock market seems to trade with a bullish trend. The Sensex trading with a gain of 11.86 points reached 31,347.93 level with 0.58% up. Whereas Nifty trading with a gain of 114.95 points reached 9,312.35 level with 1.25% up.

In the border market, S&P BSE Midcap trading with a gain of 100.17 points reached 11,988.78 level with 0.84% up. Whereas, S&P BSE SmallCap trading with a gain of 26.96 points reached 11,122.15 level with 0.24% up.

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