Kansai Nerolac Paints scales record high

Kansai Nerolac Paints rose 1.44% to Rs 2,027.60 at 10:25 IST on BSE, with the stock extending Thursday's rally triggered on reporting good Q2 result.

Meanwhile, the S&P BSE Sensex was up 37.69 points or 0.14% at 26,888.74

On BSE, so far 1,380 shares were traded in the counter as against average daily volume of 3,793 shares in the past one quarter.

The stock hit a high of Rs 2,081.80 so far during the day, which is a record high for the counter. The stock hit a low of Rs 2,003 so far during the day. The stock had 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 23 October 2014, advancing 7.08% compared with Sensex's 0.28% rise. The scrip had also outperformed the market over the past one quarter, jumping 21.07% as against Sensex's 2.69% rise.

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

Shares of Kansai Nerolac Paints gained 8.27% in two trading days from recent low of Rs 1,872.70 on 22 October 2014 triggered on reporting good Q2 result.

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. The result was announced after market hours on Wednesday, 22 October 2014. The stock had surged 6.74% to Rs 1,998.90 on Thursday, 23 October 2014, when the market was open for a special Muhurat trading session to mark the start of Samvat 2071.

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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