Bombay Dyeing rises after robust Q4 profit

Reuters Updated - December 06, 2021 at 09:31 PM.

Bombay Dyeing, Bombay Burmah, National Peroxide and Britannia Industries, part of the 283-year-old Wadia Group, tanked on Tuesday after news broke that group chairman Nusli Wadia's son, Ness Wadia, had got a two-year prison term for possessing drugs during a skiing holiday in Japan. V Ganesan

Shares of Bombay Dyeing and Mfg Co rose as much as 12.22 per cent to Rs 135, their biggest per cent gain since March 12.

The company on Thursday posted net profit of Rs 1,253 crore ($180.85 mln) versus Rs 1,095 crore, boosted by its real estate unit.

The company's revenue from the

real estate segment was Rs 2,354 crore, compared with Rs 406 crore a year ago.

Around 2.2 million shares changed hands by 0424 GMT, compared with the 30-day average of about 2.2 million shares. The stock is trading at its highest level since April 18.

As of Thursday's close, the stock has risen 5.76 per cent this year ($1 = 69.2825 rupees).

Published on May 3, 2019 05:57