Berger Paints gains as foreign promoter ups holding

Berger Paints India gained 3.61% to Rs 236.90 at 10:53 IST on BSE after foreign promoter bought 0.1% stake in the paint manufacturing company on Thursday, 12 December 2013.

Meanwhile, the S&P BSE Sensex was down 143.16 points or 0.68% at 20,782.45

On BSE, so far 64,466 shares were traded in the counter as against average daily volume of 31,678 shares in the past one quarter.

The stock hit a high of Rs 239.15 and a low of Rs 230.75 so far during the day. The stock had hit a record high of Rs 256.30 on 19 July 2013. The stock had hit a 52-week low of Rs 146.20 on 12 December 2012.

The stock underperformed the market over the past one month till 12 December 2013, rising 1.96% compared with the Sensex's 3.17% rise. The scrip had, however, outperformed the market in past one quarter, rising 7.5% as against Sensex's 5.78% rise.

The mid-cap company has equity capital of Rs 69.29 crore. Face value per share is Rs 2.

UK Paints India bought 3.50 lakh shares or 0.1% stake in Berger Paints India at Rs 228.50 per share in a block deal on NSE on Thursday, 12 December 2013. Vinu Dhingra was the seller in the transaction.

Total promoter holding in Berger Paints India was 74.96% (as per the shareholding pattern as on 30 September 2013). UK Paints India held 45.64% stake in the company while Vinu Dhingra owned 2.21% stake in Berger Paints India (as per the shareholding pattern as on 30 September 2013).

Berger Paints India's consolidated net profit rose 17.3% to Rs 62.67 crore on 19.4% growth in total income to Rs 974.50 crore in Q2 September 2013 over Q2 September 2012.

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

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