Increasing disposable incomes, surge in sales of high-end products and rapid urbanisation, among other things, are driving demand for luxury and premium paints. Source: Adobe Stock
Shares of Shalimar Paints (SPL) rallied 7 per cent to Rs 158.85 on the BSE in Wednesday's intra-day trade, surging 32 per cent in the past one week on hopes of improvement in margins going forward.
The stock of the paint maker was trading close to its 52-week high level of Rs 163.50, touched on April 21, 2022. Trading volumes on the counter jumped over three-fold today as a combined 765,000 equity shares changed hands on the NSE and BSE till the time of writing of this report. In comparison, the S&P BSE Sensex was down 0.33 per cent at 12:00 PM. The index has gained 2.3 per cent in the past one week.
Other paint companies like Indigo Paints, Akzo Noble
First Published: Jun 29 2022 | 12:45 PM IST