Berger Paints builds on its acquisition plan
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Berger Paints (India) – Tips |
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Berger Paints (India) – Price Details |
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Berger Paints (India) – Technical Analysis |
Berger Paints India is currently trading at Rs 78.00, up by 2.75 points or 3.65% from its previous closing of Rs 75.25 on the BSE.
The scrip opened at Rs 76.30 and has touched a high and low of Rs 78.80 and Rs 75.25 respectively. So far 202679 shares were traded on the counter.
The BSE group ‘B’ stock of face value Rs 2 has touched a 52 week high of Rs. 82.85 on 02-Jul-2010 and a 52 week low of Rs. 41.45 on 12-Aug-2009.
Last one week high and low of the scrip stood at Rs 78.80 and Rs 73.00 respectively. The current market cap of the company is Rs 2699.37 crore.
The promoters holding in the company stood at 75.59% while Institutions and Non-Institutions held 10.85% and 13.57% respectively.
Berger Paints India is vying for an acquisition of a specialty decorative paint maker in South Asia; the company is in talks with the speciality decorative maker from last 7-8 months. Further, the company is not ruling out the possibility of a domestic purchase too.
Berger Paints has required funds for the acquisition and has appointed Ernst and Young to advice on the deal.
The company, which already has an international presence through subsidiary firms in Nepal, Poland and Russia, intends to spend between Rs 250-300 crore on capacity expansion over the next five years to double its production to about 5,00,000 tonne per annum.
Recently the company acquired 48 acre of land at Hindupur in Andhra Pradesh to set up a 150,000 kilolitre per annum plant with an investment of about Rs 125 crore.
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