Paint stocks up on price hike reports; Asian, Berger Paints gain up to 6%

Paint companies Asian Paints and Berger Paints have taken high-single-digit price increases across their portfolio in a move to offset the rising inputs costs, indicate reports

Shares of paint companies gained up to 6 per cent on the BSE in Wednesday’s intra-day trade in an otherwise range-bound market on reports of price hike.

Asian Paints rallied 6 per cent to Rs 3,145.60, while Berger Paints India gained 5 per cent at Rs 767.80, followed by Shalimar Paints (5 per cent at Rs 95.75), Kansai Nerolac Paints (4 per cent to Rs 592), Indigo Paints (3.5 per cent at Rs 2,470) and Akzo Nobel India (3 per cent at Rs 2,148) on the BSE in intra-day trade. In comparison, the S&P BSE Sensex was up 0.24