Shalimar Paints slips after fire broke-out at Nasik plant

21 Nov 2016

Shalimar Paints is currently trading at Rs. 125.80, down by 17.05 points or 11.94% from its previous closing of Rs. 142.85 on the BSE.

The scrip opened at Rs. 137.00 and has touched a high and low of Rs. 140.00 and Rs. 123.40 respectively. So far 16,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 223.60 on 23-Aug-2016 and a 52 week low of Rs. 88.70 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 174.00 and Rs. 123.40 respectively. The current market cap of the company is Rs. 238.24 crore.

The promoters holding in the company stood at 62.30%, while Institutions and Non-Institutions held 4.66% and 33.04% respectively.

Fire broke out at one of plants of Shalimar Paints situated at Gonde Dumala village, Igatpuri, Nasik in state of Maharashtra on November 19, 2016. Fortunately, there has been no loss or injury to human life. The company is in the process of ascertaining the actual loss caused by the fire and also is in process of informing the same to the Insurance Company. The company is taking adequate steps to ensure re-functioning of the plant at the earliest.

Shalimar Paints is one of the leading paints manufacturing companies in India. The company has a wide product range in both Architectural and Industrial sectors.

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