Kansai Nerolac Paints inches up after good Q4 earnings

Kansai Nerolac Paints rose 0.84% to Rs 298.65 at 9:59 IST on BSE after net profit jumped 920% to Rs 615.77 crore on 10.3% growth in net sales to Rs 888.20 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours yesterday, 27 April 2016.

Meanwhile, the S&P BSE Sensex was up 7.95 points or 0.03% at 26,072.07.

On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 49,000 shares in the past two weeks. The stock was volatile. The stock rose as much as 4.44% at the day's high of Rs 309.30 so far during the day. The stock rose 0.28% at the day's low of Rs 297 so far during the day. The stock had hit a record high of Rs 316.10 on 18 April 2016. The stock had hit a 52-week low of Rs 196.25 on 28 April 2015.

The large-cap company has equity capital of Rs 53.89 crore. Face value per share is Rs 1.

On 30 March 2016, the company had sold its Perungudi fixed assets for a consideration of Rs 537.86 crore. The profit of Rs 535.34 crore is disclosed as an exceptional item in Q4 March 2016.

Kansai Nerolac Paints is the second largest coating company in India and a market leader in industrial coatings.

Powered by Capital Market - Live News