Business News

A promoter of Gravita India on Friday divested a 3.4 per cent stake in the company for Rs 498 crore through an open market transaction. According to the bulk deal data available on the NSE, Rajat Agarwal offloaded 25 lakh shares, representing a 3.38 per cent stake in Gravita India. The shares were sold at an average price of Rs 1,991.52 apiece, taking the transaction value to Rs 497.88 crore. Following the latest transaction, Rajat Agarwal's holding in Gravita India slipped to 32.39 per cent from 35.77 per cent. Meanwhile, Motilal Oswal Asset Management Co picked up 7.33 lakh shares at an average price of Rs 1,991 per piece. This took the deal value to Rs 145.98 crore. Details of the other buyers of Gravita India's shares could not be identified on the National Stock Exchange (NSE). On Friday, shares of Gravita India depreciated 4.55 per cent to close at Rs 1,954 apiece on the NSE. In May 2023, Gravita India promoter Rajat Agarwal sold a 4.6 per cent stake in the company for Rs 181 crore. In a separate bulk deal on the NSE, Nippon India Mutual Fund purchased 19.5 lakh shares or 0.82 per cent stake in the Ramco Cements for Rs 195.98 crore. The shares were picked up at an average price of Rs 1,005.03 apiece on the NSE. Details of the sellers of the Ramco Cement's shares could not be ascertained on the exchange. The scrip of the Ramco Cements rose 1.50 per cent to close at Rs 1,002.65 apiece on the NSE.

Aditya Birla Fashion and Retail Ltd on Friday said its consolidated net loss narrowed to Rs 23.55 crore in the fourth quarter ended March 2025. The company had posted a net loss of Rs 266.36 crore during the January-March quarter a year ago, according a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL). Its revenue from operations rose to Rs 1,719.48 during the quarter under review. It was at Rs 1,575.12 crore in the year-ago period. Total expenses of ABFRL were at Rs 1,959.53 crore in the March quarter. According to ABFRL, its results are not comparable due to demerger of Madura Fashion & Lifestyle Business. "Pursuant to the demerger, the balances of assets and liabilities relating to MFL business has been transferred to the resulting company. Accordingly, the balance sheet as at March 31, 2025 is not comparable with the balance sheet as at March 31, 2024," it said. Its revenue from Pantaloons was at Rs 884.60 crore and Rs 846.99 crore from Ethnic and others. In the financial year ended March 2025, ABFRL's net loss was at Rs 455.82 crore. In FY25, the revenue from operation was at Rs 7,354.73 crore. Stock of Adltya Birla Fashion and Retail Ltd on Friday settled at Rs 88.50, down 1.50 per cent from previous close.