Grasim has doubled the capital expenditure for its foray into the paints business to Rs 10,000 crore.
The paints major saw its revenue increase 18.7 per cent to Rs 7,892.7 crore in the quarter
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Consolidated sales increased 20.6% to Rs 7,890 cr in Q4FY22, the company said on Tuesday
Nifty 50 is back to 18,000, still half of Nifty 500 stocks trade below 200-DMA
Margins could be badly impacted, while weak demand across segments could disrupt top lines
The steep and unprecedented inflationary trend in raw material prices continued to impact the gross margins.
Oil prices climbed towards their highest levels in more than seven years on Monday on fears that a possible invasion of Ukraine by Russia could trigger sanctions (on the latter) from US and Europe
The two major OMCs were exhibiting a mixed trend on the charts, with HPCL reflecting positivity, while BPCL struggling to hold ground.
The company expects March quarter (Q4) to be better than Q3
However, consolidated revenue from operations rises 26% to Rs 8,527 cr
Over the past seven decades, Asian Paints has built India's largest paint dealer network of more than 70,000, from the 35,000 dealers in 2013-14 (FY14)
The company's stock price ended 0.5 per cent higher on Friday at Rs 3,382 on the BSE
Year 2020 may see up to 20 per cent jump in these stocks, as the chart formations reveal higher interest of market players in these counters
Pandemic related restrictions, rural slowdown and input costs are key concerns
The underneath strength, preferably read as price action, has been able to hold ground around the major neckline supports for these stocks