Kansai Nerolac hits 52-week low, falls 17% in February on weak Q3 results

The good growth in infrastructure, core sector as well as automobile and real estate is likely to have a positive effect on the overall demand of paint for the industry in the long run.

Kansai Nerolac sells its Chennai land to SPV floated by Brigade & GIC Singapore
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SI Reporter Mumbai
Shares of Kansai Nerolac Paints hit a 52-week low of Rs 468.85, down 3 per cent on the BSE in Wednesday’s intra-day trade due to weak demand. The stock of the paint company fell below its previous low of Rs 470.75 hit on February 14, 2022.

Thus far in the month of February, the stock has declined 17 per cent after the company reported a 34.7 per cent year-on-year (YoY) de-growth in profit after tax (PAT) at Rs 132 crore due to lower industrial volume offtake and delay in passing of higher raw material prices and higher operational cost.

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First Published: Feb 23 2022 | 2:30 PM IST

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