Berger Paints surges on entering into MoU with Chugoku Marine Paints

12 Apr 2017

Berger Paints India is currently trading at Rs. 239.55, up by 6.75 points or 2.90 % from its previous closing of Rs. 232.80 on the BSE.

The scrip opened at Rs. 236.00 and has touched a high and low of Rs. 245.80 and Rs. 235.70 respectively. So far 65280 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 276.80 on 12-Sep-2016 and a 52 week low of Rs. 174.29 on 24-Jun-2016.

Last one week high and low of the scrip stood at Rs. 246.70 and Rs. 231.00 respectively. The current market cap of the company is Rs. 23235.71 crore.

The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 14.23% and 10.78% respectively.

Berger Paints India and Chugoku Marine Paints (CMP) of Japan have entered into a Memorandum of Understanding (MoU) for cooperation and collaboration in the field of marine and related industrial paints in India. The MOU envisages joint efforts in marketing, supplying and purchasing marine related industrial paints. Subsequently, the parties have a view of establishing a joint venture company as their final objective.

Berger Paints India is the second largest paint company in the country with a gross turnover of more than Rs 5,000 crore. It is present in all segments of paint including Decorative, Automotive, Industrial, Protective and Powder Coatings.

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