Berger Paints gains 4% in 2 days

Berger Paints India rose 1.31% to Rs 209.55 at 9:24 IST on BSE, with the stock extending Monday's 2.65% gains triggered by the company's announcement that it has agreed to acquire the architectural operations of Sherwin Williams Paints India.

Meanwhile, the S&P BSE Sensex was up 46.04 points or 0.23% at 19,692.25.

On BSE, 19,000 shares were traded in the counter as against average daily volume of 1 lakh shares in the past one quarter.

The stock hit a high of Rs 210 and a low of Rs 207 so far during the day. The stock had hit a record high of Rs 210.45 on Monday, 11 March 2013. The stock had hit a 52-week low of Rs 101.20 on 16 March 2012.

The mid-cap company has equity capital of Rs 69.26 crore. Face value per share is Rs 2.

Shares of Berger Paints India have risen 3.99% in two trading sessions from Rs 201.50 on 8 March 2013, after the company during trading hours on Monday, 11 March 2013 said it has agreed to acquire the architectural operations of Sherwin Williams Paints India, through the company's wholly owned subsidiary, Brushworks Paints. The stock had risen 2.65% to settle at Rs 206.85 on Monday, 11 March 2013.

Berger Paints said that the acquisition of the architectural operations of Sherwin Williams Paints India will significantly increase the company's presence in key markets.

Berger Paints India's consolidated net profit jumped 56.4% to Rs 76.80 crore on 17.4% growth in net sales to Rs 917.10 crore in Q3 December 2012 over Q3 December 2011.

Berger Paints India manufactures and markets a range of decorative and industrial paint products and has operations throughout India with seven manufacturing facilities, over 135 depots, over 2,500 employees and more than 15,000 dealers

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