Asian Paints at new all time high

The stock surged further to a high of Rs 1,373 - up 7% from the day's low. It finally ended up 3% at Rs 1,350. Around 41,101 shares were traded on the BSE today.
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(Updated at 1205 hrs)

Asian Paints has touched a new all time high after the company reported 65% surge in net profit on Friday.

The stock opened at Rs 1,280 and zoomed to a high of Rs 1,367. The scrip is now trading at Rs 1,360, up 4% from its previous close. The counter has witnessed trades of 16,039 shares as compared to the two-week daily average traded volumes of 14,377 shares on the BSE. The stock has surged 13% in a week's time and has more-than-doubled from its low of Rs 681 on March, 2009.

The company has reported a 65% surge in its consolidated net profit for the June quarter to Rs 180 crore as compared to Rs 109 crore in the previous quarter, a year ago.
 
The revenue for the first quarter also increased by 18% to Rs 1,460 crore, as compared to Rs 1,242 crore in the previous quarter, a year ago.