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Berger Paints surges on inking MoU with Russian Government

19 Feb 2015

Berger Paints India is currently trading at Rs 223.55, up by 6.05 points or 2.78% from its previous closing of Rs 217.50 on the BSE.

The scrip opened at Rs 220.10 and has touched a high and low of Rs 226.80 and Rs. 220.10 respectively. So far 50525 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 252.70 on 09-Jan-2015 and a 52 week low of Rs 102.08 on 20-Feb-2014.

Last one week high and low of the scrip stood at Rs 221.75 and Rs. 209.35 respectively. The current market cap of the company is Rs. 15460.24 crore.

The promoters holding in the company stood at 74.97% while Institutions and Non-Institutions held 13.59% and 11.44% respectively.

Berger Paints India and the Government of the Stavropol Region, Russian Federation have entered into a Memorandum of Understanding (MoU) for conducting a feasibility study and establishment of an industrial coatings plant in the Stavrapol region of Russia by Berger.

Stavrapol is the administrative centre of StavrapolKrai, at the centre of the northern Caucasus region, in the South West corner of Russia. Stavrapol is an industrially developed area, with an automobile manufacturing facility and several other industries. it aims to further grow its industrial sector and is inviting global investors, including entrepreneurs from India, for the purpose.

Pursuant to the MOU, Berger will conduct a feasibility study, to be completed by 2015, for setting up a modern industrial coatings plant in the Stavrapol region. Berger will set up the plant to cater to the demands of the industries in the region and elsewhere in Russia, based on the results of the feasibility study.

Berger Paint’s range of products for Interior Wall Coating include Breathe Easy, Silk Luxury Emulsion, Easy Clean, Rangoli Total Care, Rangoli Total Care, while the company offers WeatherCoat All Guard, WeatherCoat Smooth, WeatherCoat Kool & Seal,WeatherCoat Longlife, WeatherCoat Tile Protektor and Walmasta, etc.

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