Pidilite Industries scales record high

Pidilite Industries gained 5.93% to Rs 417.30 at 10:57 IST on BSE, with the stock extending recent gains on renewed buying.

Meanwhile, the BSE Sensex was up 8.95 points, or 0.03%, to 26,445.97

On BSE, so far 68,196 shares were traded in the counter compared with average volume of 38,349 shares in the past one quarter.

The stock hit a record high of Rs 422.40 in intraday trade today, 26 August 2014. The stock hit a low of Rs 390.10 so far during the day. The stock hit a 52-week low of Rs 219.70 on 28 August 2013.

The stock had outperformed the market over the past one month till 25 August 2014, rising 6.63% compared with 1.19% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 19.34% as against Sensex's 7.06% rise.

The large-cap company has an equity capital of Rs 51.26 crore. Face value per share is Re 1.

Shares of Pidilite Industries gained 13.92% in four trading days from recent low of Rs 366.30 on 20 August 2014. A research report released recently had indicated that sales of adhesives and industrial chemicals are, to a good extent, linked to the fortunes of the economy. With the economy showing signs of a pick-up, manufacturers of these products should benefit. Pidilite Industries is the market leader in the adhesives segment.

Pidilite Industries' consolidated net profit rose 4.7% to Rs 168.52 crore on 19.4% increase in total income to Rs 1362.08 crore in Q1 June 2014 over Q1 June 2013.

Pidilite Industries' product range includes adhesives and sealants, construction and paint chemicals, automotive chemicals, art materials, industrial adhesives, industrial and textile resins and organic pigments and preparations. The company's adhesives brand Fevicol is the largest selling adhesives brand in Asia.

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