Kamdhenu Ventures to expand premium products line-up; stock climbs 2.5%

Kamdhenu Ventures shares zoom: Shares of Kamdhenu Ventures climbed 2.56 per cent to Rs 48.74, just shy of Rs 0.26 from its 52-week high of Rs 49 on the BSE, during intra-day deals on Monday. The northward move in the smallcap stock came after Kamdhenu Paints, a wholly-owned subsidiary of the Kamdhenu Ventures, announced that it is set to expand its premium product line with the introduction of a new wood coatings range, adhering to international quality standards.

The company has informed the exchanges in regulatory filings that the launch is scheduled for October 2024, and will further solidify Kamdhenu Paints' position in the market as a leader in premium, innovative coatings solutions.

"With these initiatives, Kamdhenu Paints is poised to become a major player in the Wood Coatings industry, contributing to a more sustainable and innovative future. We look forward to the continued support of our investors and stakeholders as we embark on this exciting new phase of growth," said Kamdhenu Ventures in a regulatory filing.

Kamdhenu Ventures Limited is a new company that was created as a separate part of the larger Kamdhenu Limited group. Through its subsidiary company, Kamdhenu Colour and Coatings Limited, it sells a variety of decorative paints under the brand name 'Kamdhenu Paints'. 

The company has a market capitalisation of Rs 1,529.34 crore as of September 9, 2024. It is a constituent of the BSE SmallCap index on the BSE.

Kamdhenu Ventures shares have yielded a return of 42.29 per cent year-to-date. In comparison, the benchmark Sensex has jumped 12.68 per cent during the said period. The Smallcap stock has a 52-week range of Rs 49 - 27.12 on the BSE.

Kamdhenu Ventures shares continue to trade northward on the bourse. At around 2:15 pm today, the Smallcap stock was quoted at Rs 48.69, up 2.46 per cent from its previous close on the BSE. Nearly 8.42 lakh shares worth around Rs 4.07 crore of the company have exchanged hands on the BSE on Monday.

 Meanwhile, on the NSE, Kamdhenu Ventures shares were seen trading at Rs 48.66, up 2.44 per cent from its previous close, with 233.29 lakh equities worth nearly Rs 112.65 crore exchanging hands on Monday.