Asian Paints touches new 52-wk high

The stock surged further to a new 52-week high of 1,707 - up 12% from the previous close. The stock finally ended with a huge gain of 9.5% at Rs 1,676. The counter witnessed trades of over 86,694 shares on the BSE as against its two-week daily average trade of 5,502 shares.
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(Updated at 1040 hrs)

Asian Paints has surged to a new 52-week high on a rise in Q2 net profit.

The stock opened at Rs 1,580 and touched a new 52-week high of Rs 1,624 - up 6%. It is now trading with a 4% gain at Rs 1,595.

The stock has surged 17% in the past month.

The counter has clocked comparatively hefty volumes of 17,074 shares on the BSE as against the two-week daily average trade of 5,502 shares.

The consolidated net profit of the company has soared 104% to Rs 2,683 crore for the quarter ended Sept 2009 from Rs 131.47 crore in the corresponsing quarter a year ago. The total income stood at Rs 1,811.36 crore as against Rs 1,493.29 crore in Q2FY09 - a rise of 21%.

The board has further announced a dividend of Rs 8.5 for every share of Rs 10 (85%).