/ Kansai Nerolac Paints To Set Up A New Facility In Andhra Pradesh ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 31 January 2017

Kansai Nerolac Paints, at its meeting held on January 31, 2017, has approved setting up of a paint manufacturing unit at Achutapuram, Vishakhapatnam district in Andhra Pradesh. The plant will have a capacity of 60,000 KL per year, which is expendable in phases, at an estimated cost of Rs 304 crore.

Stock of Kansai Nerolac Paints has delivered returns of 32.82% in a period of one year, outperforming the BSE Mid-cap index and underperforming the Nifty Commodities index over the same time span.

Based in Mumbai, Kansai Nerolac Paints is the largest industrial paint company and the third largest decorative paint company of India, being a subsidiary of Kansai Paint Japan. Kansai Nerolac Paints Ltd is currently trading at Rs 345.95, down by Rs 2.55 or 0.73% from its previous closing of Rs 348.5 on the BSE.

The scrip opened at Rs 350 and has touched a high and low of Rs 358.5 and Rs 343.85 respectively. So far 646007(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 18781.35 crore.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 403.35 on 05-Oct-2016 and a 52 week low of Rs 258 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 355 and Rs 335.1 respectively. The promoters holding in the company stood at 74.99 % while Institutions and Non-Institutions held 14.73 % and 10.28 % respectively. The stock is currently trading above its 200 DMA.

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