Shalimar Paints strengthens on expansion plan

Shalimar Paints is currently trading at Rs. 84.00, up by 0.75 points or 0.90% from its previous closing of Rs. 83.25 on the BSE. The scrip opened at Rs. 84.00 and has touched a high and low of Rs. 84.00 and Rs. 84.00 respectively. So far 25 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 131.80 on 09-May-2013 and a 52 week low of Rs. 48.95 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs. 84.60 and Rs. 80.00 respectively. The promoters holding in the company stood at 62.36% while Institutions and Non-Institutions held 3.21% and 34.43% respectively. Shalimar Paints is on a major expansion and diversification drive. The 112-year-old paint-maker, which has a dominant market share in paints for industrial applications, plans to give special thrust to consumer products and step up its retail presence with a new brand. In this regard, the company will commission Rs 55-crore plant near Chennai later this year. Shalimar Paints is one of the leading paints manufacturing companies in India. The company has three manufacturing facilities located Howrah, Nasik and Sikandrabad.