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Pidilite Industries jumps on entering into sales, distribution tie-up with WD-40 Company

30 Sep 2016

Pidilite Industries is currently trading at Rs. 673.00, up by 4.45 points or 0.67 % from its previous closing of Rs. 668.55 on the BSE.

The scrip opened at Rs. 666.00 and has touched a high and low of Rs. 675.70 and Rs. 661.00 respectively. So far 36784 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 769.50 on 29-Jul-2016 and a 52 week low of Rs. 521.05 on 14-Dec-2015.

Last one week high and low of the scrip stood at Rs. 709.45 and Rs. 651.00 respectively. The current market cap of the company is Rs. 34590.20 crore.

The promoters holding in the company stood at 69.59%, while institutions and non-institutions held 20.07% and 10.34% respectively.

Pidilite Industries has entered into sales and distribution tie-up with WD-40 Company, a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. In India, WD-40 Company has joined with Pidilite Industries to distribute and sell WD-40 Multi-Use Product.

Through this seamless integration, WD-40 Company and Pidilite Industries respectively aim to expand the reach and range of their offered products to the Indian market. This agreement will allow the WD-40 brands to have a larger reach and support the network expansion, while making it extensively available to consumers.

WD-40 Multi-Use Product is a multi-purpose maintenance product with more than 2000 uses. It protects metal from rust and corrosion, penetrates stuck parts, displaces moisture, lubricates moving parts, and removes grease and grime from most surfaces. WD-40 Multi-Use Product is used by trades people and do-it yourselfers to get their jobs done right in more than 176 countries and territories around the world.

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SEBI Registered: Investment Adviser - INA000013323