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Berger Paints gains after inking pact with NBCC

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rose 1.10% to Rs 243.65 at 10:44 on after the company said its unit signed a pact with NBCC for business exploration.

The announcement was made after market hours yesterday, 17 April 2017.

Meanwhile, the S&P Sensex was up 262.62 points, or 0.89% to 29,676.28.

On the BSE, 24,000 shares were traded in the counter so far, compared with average daily volumes of 3.20 lakh shares in the past one quarter. The stock had hit a high of Rs 247.50 and a low of Rs 242.90 so far during the day. The stock hit a record high of Rs 276.80 on 12 September 2016. The stock hit a 52-week low of Rs 174.22 on 24 June 2016.

The stock had outperformed the market over the past one month till 17 April 2017, rising 4.08% compared with 0.79% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 12.07% as against Sensex's 8% rise.

The large-cap company has equity capital of Rs 97.10 crore. Face value per share is Re 1.

said that its wholly-owned subsidiary, Bolix, S.A. Poland and NBCC signed a memorandum of business exploration yesterday, 17 April 2017, in furtherance of a joint initiative to bring to External Thermal Insulation and Composite Systems (ETICS), a proven solution for improving energy performance of temperature controlled buildings.

ETICS is a very cost effective and efficient solution and much used in Europe. Germany and Poland are the pioneers in this technology though ETICS is now in use in over 15 countries in Europe.

NBCC and Bolix will jointly promote, develop and facilitate the use of ETICS solutions n building projects in India with the principal objective of reducing significantly the energy requirements for cooling or heating in these buildings which is expected to result in gains in environmental sustainability.

On consolidated basis, India's net profit fell 2% to Rs 109.12 crore on 5.2% growth in net sales to Rs 1170.20 crore in Q3 December 2016 over Q3 December 2015.

Berger Paints India manufactures and markets a range of decorative and industrial paint products and has operations throughout India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 18 2017. 10:49 IST