Asian Paints transfers stake in overseas units; up 1%

The company announced that as part of the company's plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) Limited (APIL), Mauritius, a wholly owned subsidiary of the Company has transferred its entire holding of 60% held in the subsidiary company.

Asian Paints stock was up by 1% at Rs. 849. The company announced that as part of the Company's plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) Limited (APIL), Mauritius, a wholly owned subsidiary of the Company has transferred its entire holding of 60% held in the subsidiary Company, Asian Paints (Vanuatu) Limited to Berger International Private Limited, Singapore, a wholly owned subsidiary of APIL.

Asian Paints Ltd is currently trading at Rs. 848.5, up by Rs. 8.25 or 0.98% from its previous closing of Rs. 840.25 on the BSE.

The scrip opened at Rs. 842 and has touched a high and low of Rs. 850.5 and Rs. 842 respectively. So far 103446(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 80596.78 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 924.65 on 05-Aug-2015 and a 52 week low of Rs. 693 on 16-Jun-2015. Last one week high and low of the scrip stood at Rs. 878 and Rs. 830 respectively.

The promoters holding in the company stood at 52.79 % while Institutions and Non-Institutions held 26.88 % and 20.33 % respectively.

The stock is currently trading below its 100 DMA.