Kansai Nerolac Paints jumps on stock split plan

Kansai Nerolac Paints rose 4.58% to Rs 2208.95 at 10:28 IST on BSE after the company said its board will meet on 30 January 2015 to consider a stock split.

The announcement was made after market hours on Friday, 9 January 2015.

Meanwhile, the BSE Sensex was up 21.11 points, or 0.08%, to 27,479.49.

On BSE, so far 9,471 shares were traded in the counter, compared with an average volume of 1,403 shares in the past one quarter.

The stock hit a high of Rs 2,277 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 2,200 so far during the day. The stock hit a 52-week low of Rs 975.25 on 18 February 2014.

The stock had outperformed the market over the past one month till 9 January 2015, rising 5.45% compared with 1.22% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.36% as against Sensex's 3.08% rise.

The large-cap company has an equity capital of Rs 53.89 crore. Face value per share is Rs 10.

Kansai Nerolac Paints's net profit surged 40.6% to Rs 72.66 crore on 17.2% growth in net sales to Rs 915.18 crore in Q2 September 2014 over Q2 September 2013.

Kansai Nerolac Paints is the second largest paint company in India and is the leader in industrial segment. The company manufactures a diversified range of products ranging from architectural coatings for homes, offices, hospitals and hotels to sophisticated industrial coatings for most of the industries.

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