Kansai Nerolac Paints gained 4.9% to Rs 345.85 at 14:26 IST on BSE after net profit jumped 32.89% to Rs 126.50 crore on 8.87% increase in total income to Rs 1068.14 crore in Q1 June 2016 over Q1 June 2015.
The company announced the first quarter results during market hours.Meanwhile, the S&P BSE Sensex, was down 130.42 points or 0.46% at 28,078.20.
On BSE, so far 1.36 lakh shares were traded in the counter, compared with an average daily volume of 54,078 shares in the past one quarter. The stock hit high of Rs 347.90 so far during the trading session, which is a record high for the counter. The stock hit a low of Rs 329 so far during the trading session. The stock had hit 52-week low of Rs 207 on 24 August 2015. The stock had underperformed the market over the past one month till 28 July 2016, gaining 6.15%, compared with the Sensex's 6.35% gains. The scrip had outperformed the market in past one quarter, gaining 12.84% as against the Sensex's 10.18% rise.
The large-cap company has equity capital of Rs 53.89 crore. Face value per share is Rs 1.
Kansai Nerolac Paints manufactures a diversified range of products ranging from decorative paints coatings for homes, offices, hospitals and hotels to sophisticated industrial coatings for most of the industries. The company markets decorative paints under the Nerolac brand. Japan's Kansai Paints Co. holds 73.99% stake in Kansai Nerolac Paints.
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