Asian Paints gains on plan to set up Rs 2,300 crore paint manufacturing unit in Karnataka

16 Jul 2015

Asian Paints is currently trading at Rs. 846.50, up by 9.25 points or 1.10% from its previous closing of Rs. 837.25 on the BSE.

The scrip opened at Rs. 850.25 and has touched a high and low of Rs. 855.00 and Rs. 844.00 respectively. So far 82,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 922.80 on 29-Jan-2015 and a 52 week low of Rs. 577.20 on 16-Jul-2014.

Last one week high and low of the scrip stood at Rs. 855.00 and Rs. 782.00 respectively. The current market cap of the company is Rs. 81,196.00 crore.

The promoters holding in the company stood at 52.79% while Institutions and Non-Institutions held 26.83% and 20.37% respectively.

Asian Paints is planning to set up Rs 2,300 crore water-based paint manufacturing unit in Karnataka. The company will set up six lakh kilo litres per annum (KLPA) manufacturing unit at Immavu Village, Thandya Industrial Area (2nd Phase), Nanjangud Taluk in Mysore District.

The proposed plant at Nanjangud is expected to be the company’s biggest manufacturing plant with 6 lakh KLPA capacity with the estimated sales turnover of Rs 10,250 crore.

Asian Paints is India’s largest paint company and Asia’s third largest paint company. The company along with its subsidiaries has operations in 20 countries across the world and 28 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.

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Puchho Befikar
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