Berger Paints gains after good Q2 results

Berger Paints India rose 1.25% to Rs 263.30 at 10:00 IST on BSE after consolidated net profit rose 55% to Rs 138.80 crore on 7.8% growth in income from operations to Rs 1271.40 crore in Q2 September 2016 over Q2 September 2015.

The result was announced after market hours yesterday, 3 November 2016.

Meanwhile, the S&P BSE Sensex was down 19.64 points or 0.07% at 27,410.64.

On BSE, so far 78,000 shares were traded in the counter as against average daily volume of 52,000 shares in the past two weeks. The stock hit a high of Rs 270 and a low of Rs 262 so far during the day. The stock had hit a record high of Rs 276.80 on 12 September 2016. The stock had hit a 52-week low of Rs 152.86 on 14 December 2015.

The large-cap company has equity capital of Rs 97.10 crore. Face value per share is Rs 1.

The bottom line in Q2 September 2016 was boosted by Rs 44.20 crore on account of profit from sale of business to Berger Nippon Paint Automotive Coatings, a joint venture company in which Berger Paints India holds 49% of the paid-up capital.

Berger Paints India manufactures and markets a range of decorative and industrial paint products and has operations throughout India.

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