Berger Paints India rose 2.25% to Rs 222.35 at 12:15 IST on BSE, with the stock extending its recent upmove.
Meanwhile, the S&P BSE Sensex was down 59.18 points or 0.22% at 29,254.50
On BSE, so far 87,863 shares were traded in the counter as against average daily volume of 1.36 lakh shares in the past one quarter.
The stock hit a high of Rs 226.80 and a low of Rs 218.90 so far during the day. The stock hit a record high of Rs 252.70 on 9 January 2015. The stock hit a 52-week low of Rs 102.08 on 20 February 2014.
The stock had underperformed the market over the past one month till 18 February 2015, falling 3.93% compared with 4.26% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 19.97% as against Sensex's 4.11% rise.
The large-cap paint maker has equity capital of Rs 69.33 crore. Face value per share is Re 1.
Shares of Berger Paints India rose 5.27% in four trading days from a recent low of Rs 211.20 on 12 February 2015.
Berger Paints India said that the company and the Government of the Stavropol Region, Russian Federation yesterday, 18 February 2015 entered into a Memorandum of Understanding (MoU) for conducting a feasibility study and establishment of an industrial coatings plant in the Stavrapol region of Russia by Berger. Berger Paints India made the announcement at the fag end of the day's trading session yesterday, 18 February 2015, when the stock rose 1.09% to settle at Rs 217.50.
Stavrapol is an industrially developed area, with an automobile manufacturing facility and several other industries. Pursuant to the MoU, Berger will conduct a feasibility study, to be completed by 2015, for setting up a modern industrial coatings plant in the Stavrapol region. Berger will set up the plant to cater to the demands of the industries in the region and elsewhere in Russia, based on the results of the feasibility study.
Berger Paints India's consolidated net profit fell 0.2% to Rs 82.13 crore on 8.5% rise in total income to Rs 1126.23 crore in Q3 December 2014 over Q3 December 2013.
Berger Paints India manufactures and markets a range of decorative and industrial paint products and has operations throughout India.
Powered by Capital Market - Live News