Asian Paints rises on plan to increase industrial paints’ prices by 4% in May

Asian Paints is currently trading at Rs. 504.25, up by 3.25 points or 0.65% from its previous closing of Rs. 501.00 on the BSE. The scrip opened at Rs. 501.00 and has touched a high and low of Rs. 504.40 and Rs. 497.45 respectively. So far 22590 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 560.00 on 08-Nov-2013 and a 52 week low of Rs. 376.35 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 542.00 and Rs. 499.10 respectively. The current market cap of the company is Rs. 48103.77 crore. The promoters holding in the company stood at 52.79% while Institutions and Non-Institutions held 27.33% and 19.88% respectively. Asian paints is planning to increase industrial paints’ prices by 4% in May. The move came in to offset inflationary pressure on industrial products. Earlier in march, the company hiked industrial paints’ prices by 4%. Asian Paints is India’s largest paint company and Asia’s third largest paint company. The company along with its subsidiaries has operations in 20 countries across the world and 28 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.