Grasim Industries (OTCMKTS:GRSXY) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

Grasim Industries Ltd. (OTCMKTS:GRSXY)’s share price 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 trading hands.

Grasim Industries Stock Performance

The firm’s fifty day moving average price is $19.61 and its 200 day moving average price 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 stock 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 posted its earnings results on Wednesday, May 20th. The company reported $0.32 earnings per share for the quarter. The firm 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%.

About Grasim Industries

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.