Paint stocks rise after Asian Paints posts good Q4 results

Asian Paints and Berger Paints surged 6%, while Shalimar Paints and Kansai Nerolac Paints up 4% on the BSE.

Shares of paint companies were trading higher by up to 6% on the BSE in intra-day trade after Asian Paints said its decorative paint business reported a double digit volume growth in March 2018 quarter (Q4FY18) with improved demand conditions.

Asian Paints has surged 6% to Rs 1,287, surpassed its previous high of Rs 1,261 touched on September 14, 2017 on the BSE in intra-day trade.

Berger Paints India too rallied 6% to Rs 268, followed by Shalimar Paints (4% at Rs 144), Kansai Nerolac Paints (4% at Rs 530) and Akzo Nobel India (1% at Rs 1,951)