Berger Paints gains on signing MoU with Japanese firm Chugoku Marine Paints

The stock was up 3% at Rs 240 on BSE in otherwise weak market

Berger Paints was trading 3% higher at Rs 240 on BSE in otherwise weak market after the company announced it has entered into a Memorandum of Understanding (MoU) with Chugoku Marine Paints of Japan for cooperation and collaboration in the field of marine and related industrial paints in India.

“The MoU envisages joint efforts in marketing, supply, purchasing marine related industrial paints. Subsequently, the parties have a view of establishing a joint venture company as their final objective,” Berger Paints said in a press release.

The stock hit a high of Rs 246 on BSE in intra-day trade