Grasim share price NSE, Grasim share price target: Grasim Industries shares rose on Wednesday, February 21, and almost made it to an all-time high registered the previous day, after Jefferies maintained a 'buy' rating on the Aditya Birla group cement products company with a target price of Rs 2,291 per share. Grasim shares gained by as much as Rs 28.5, or 1.3 per cent, to Rs 2,221 apiece on BSE, after scaling a record high of Rs 2,222 apiece on Tuesday, continuing to rise for the fourth session in a row.

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The Grasim stock ended flat at Rs 2192.4 apiece, down by Rs 0.10 on BSE. 

Grasim Industries is set to inaugurate its highly anticipated first paint plant in Haryana’s Panipat this month.

Grasim share price target: What Jefferies says

The company will commission two other plants during the March quarter and three in the next 12-15 months, according to the foreign brokerage.

Grasim has already spent 60 per cent of the planned capex of Rs 10,000 crore for the paint business, and endeavors to become a profitable No 2 player in the segment in the coming years, according to Jefferies.

Jefferies looks forward to attending the inaugural event and better understand Grasim’s growth outlook, branding/distribution, and the margin-market share strategy in this extremely competitive business.

How did Grasim Industries fare in Q3?

Grasim Industries reported a 41.5 per cent year-on-year fall in consolidated net profit to Rs 2,603.4 crore for the quarter ended December 31, 2023, while its quarterly revenue from operations increased 11.6 per cent to Rs 31,965.5 crore, according to a regulatory filing.

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