Far from shiny

INVESTING INSIGHT

The stocks of companies engaged in the paints business in last three months on the Bombay Stock Exchange (BSE) have largely been dragged down by the two largest companies, Asian Paints and Goodlass Nerolac, that have seen a decline in the stock prices.

In the last few weeks the stocks have declined with the rising input costs that are putting pressure on the margins. Smaller companies have however seen gains.

Share price of Asian Paints dipped from Rs 310.14 on July 1, to today's close of Rs 301.89, down 2.66 per cent on the BSE.

During the same period the stock price of Bombay Paints rose from Rs 3.70 to Rs 4.66, up 25.94 per cent, Goodlass Nerolac declined from Rs 298.62 to Rs 267.85 down 10.36 per cent and Hardcastle & Waud Manufacturing Co gained from Rs 42.90 to Rs 82.60, up 92.54 per cent.

Share price of Shalimar Paints gained from Rs 39.00 to Rs 57.45, up 4.7 per cent, while Berger Paints increased from Rs 24.67 to Rs 33.50, up 35.79 per cent.

Jenson & Nicholson moved up from Rs 3.77 to Rs 4.66, up 23.6 per cent and Snowcem India appreciated from Rs 7.68 to Rs 12.26, up 59.63 per cent. Organic Coatings rose from Rs 6.01 to Rs 6.50 a minor rise of 6.5 per cent.