Berger Paints surges on plan to expand power coating plant at Jejuri

03 Jun 2016

Berger Paints India is currently trading at Rs. 287.50, up by 2.40 points or 0.84% from its previous closing of Rs. 285.10 on the BSE.

The scrip opened at Rs. 285.10 and has touched a high and low of Rs. 288.50 and Rs. 285.10 respectively. So far 4791 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 301.45 on 18-May-2016 and a 52 week low of Rs. 171.05 on 16-Jun-2015.

Last one week high and low of the scrip stood at Rs. 299.95 and Rs. 280.00 respectively. The current market cap of the company is Rs. 19868.14 crore.

The promoters holding in the company stood at 74.96% while Institutions and Non-Institutions held 13.96% and 11.08% respectively.

Berger Paints India is planning to expand its power coating plant at Jejuri near Pune in Maharashtra, with an estimated cost Rs 140 - 150 crore annually. The plant will be operational well before March end and the capacity would be 36,000 kilolitres a year comprising both water and solvent based.

The company is also setting up two plants in Assam, near Guwahati and Tejpur to take benefit of income and excise tax benefits to be commissioned by December. Additionally, capacity at its Nepal plant, under its subsidiary Berger Jenson & Nicholson is being expanded to cash in on the rush to rebuild habitations destroyed in April 2015 earthquake.

Berger Paints India is the second largest paint company in the country with a consistent track record of being one of the fastest growing paint company, quarter on quarter, for the past few years.


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