Asian Paints gains on plan to launch comprehensive sanitary ware range by January end

20 Jan 2016

Asian Paints is currently trading at Rs. 849.10, up by 3.90 points or 0.46% from its previous closing of Rs. 845.20 on the BSE.

The scrip opened at Rs. 839.00 and has touched a high and low of Rs. 855.80 and Rs. 830.00 respectively. So far 57303 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 924.65 on 05-Aug-2015 and a 52 week low of Rs. 693.00 on 16-Jun-2015.

Last one week high and low of the scrip stood at Rs. 898.00 and Rs. 825.00 respectively. The current market cap of the company is Rs. 80519.86 crore.

The promoters holding in the company stood at 52.79% while Institutions and Non-Institutions held 26.88% and 20.33% respectively.

Asian Paints shall be launching a comprehensive sanitary ware range by end of January, 2016 under the brand name ‘Ess Ess by Asian Paints’.  The company shall be launching it with a view to create complete bathroom solutions over time. This is also a step further towards the company’s vision to move from being a paints company to being a provider of complete decor solution to help customers create their dream homes.

The company had earlier announced the acquisition of the front end sales business of Ess Ess Bathroom Products, a quality player in the bath fittings business, along with its brands, network and sales infrastructure.

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, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323