Asian Paints shares jump over 6%; mcap rises by Rs 7,185 cr after Q4 earnings

Shares of Asian Paints today surged over 6 per cent as the company reported 3.39 per cent increase in consolidated net profit for the quarter ended March 2018.

The stock rose sharply by 6.17 per cent to close at Rs 1,289.60 on BSE. During the day, it zoomed 6.56 per cent to Rs 1,294.40 -- its 52-week high.

At NSE, shares of the company jumped 5.53 per cent to end at Rs 1,285.05.

The stock was the top performer among the blue chips on both Sensex and Nifty.

Following the sharp rise in the stock, the market capitalisation (m-cap) of the company climbed Rs 7,185.15 crore to Rs 1,23,698.15 crore.

In terms of equity volume, 3 lakh shares of the company were traded on BSE and over 47 lakh shares changed hands at NSE during the day.

Asian Paints yesterday reported 3.39 per cent increase in consolidated net profit at Rs 495.91 crore for the quarter ended March 2018.

The company had posted a net profit of Rs 479.61 crore in the January-March quarter a year ago.

It reported a total income of Rs 4,531.52 crore in the fourth quarter as against Rs 4,442.25 crore in the corresponding period a year ago, Asian Paints said in a BSE filing.