Grasim Industries (OTCMKTS:GRSXY) Stock Passes Below Fifty Day Moving Average – Here’s Why

Shares of Grasim Industries Ltd. (OTCMKTS:GRSXY) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $19.61 and traded as low as $19.3540. Grasim Industries shares last traded at $19.61, with a volume of 0 shares traded.

Grasim Industries Stock Up 0.5%

The firm’s fifty day simple moving average is $19.61 and its two-hundred day simple moving average is $19.60. The company has a current ratio of 0.95, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 23.91 and a beta of -0.21.

Grasim Industries (OTCMKTS:GRSXY) last announced its quarterly earnings results on Wednesday, May 20th. The company reported $0.32 earnings per share (EPS) for the quarter. The business had revenue of $5.61 billion during the quarter. Grasim Industries had a net margin of 2.80% and a return on equity of 5.91%.

Grasim Industries Company Profile

Grasim Industries (OTCMKTS:GRSXY) is a diversified Indian conglomerate and a flagship company of the Aditya Birla Group, with operations spanning textiles, specialty fibres, chemicals and financial services. Founded in 1947 and headquartered in Mumbai, Grasim has grown through strategic investments and capacity expansions to become one of the world’s leading producers of viscose staple fibre. The company leverages integrated manufacturing facilities and a global distribution network to serve major apparel brands and textile mills across Asia, Europe and North America.

In the textile segment, Grasim manufactures a wide range of products including viscose staple fibre, viscose filament yarn and blended fabrics.