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Berger Paints gains on getting nod for buying 95.53% stake in STP

Berger Paints India is currently trading at Rs. 480.80, up by 4.00 points or 0.84% from its previous closing of Rs. 476.80 on the BSE.

The scrip opened at Rs. 480.00 and has touched a high and low of Rs. 484.80 and Rs. 475.85 respectively. So far 61153 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 488.40 on 14-Oct-2019 and a 52 week low of Rs. 260.55 on 23-Oct-2018.

Last one week high and low of the scrip stood at Rs. 488.40 and Rs. 432.85 respectively. The current market cap of the company is Rs. 46614.23 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 13.59% and 11.41% respectively.

Berger Paints India has received an approval for the purchase of 1,88,63,180 equity shares of STP (STPL) representing 95.53% of the paid-up equity share capital of STPL. The balance 4.47% of the paid-up equity share capital of STPL will be held by the existing shareholders of STPL. The Board of the company at its meeting held on October 15, 2019, approved the same.

Berger Paints India is the second largest paint company in India. It is present in all segments of paint including decorative, automotive, industrial, protective and powder coatings.