Aug 5, 2021By: Rounak Jain
Days after offering his 27 percent stake to the government, Kumar Mangalam Birla has stepped down as the non-executive director and chairman of the board.
The company’s shares have fallen by 31 percent in the span of just two days.
Sprung back in the black with a net profit of ₹61 crore in the June quarter, compared to a loss of ₹270 crore last year. Revenue surged 75 percent to ₹3,249 crore in the same period.
To double its PET recycling capacity by setting up a recycled polyester staple fibre manufacturing facility in Andhra Pradesh. PET is commonly used for packaging food and beverages, including cold drinks and water.
Adani Power, Cipla, GAIL India, Indiabulls Housing Finance, Birla Corporation, Ipca Laboratories, Bajaj Consumer Care, Jubilant Industries, Honeywell Automation India, among others.
All the four IPOs that opened on August 4 have been oversubscribed.
Its June quarter net profit tripled to ₹138 crore from ₹46 crore a year ago, as sales volume doubled to 140 million metric standard cubic metres.
Bagged a contract worth ₹357 crore from Indian Oil Corporation to design and install effluent treatment plant in Paradip, Odisha.
To set up a greenfield manufacturing plant in Gujarat at an outlay of ₹548 crore to manufacture medium density fibre boards.
Posted a net profit of ₹128 crore in the June quarter as against a loss of ₹135 crore a year ago. Revenue surged 59 percent to ₹4,584 crore as the company said it has adapted to the ‘new way of working’ in the pandemic.