Thursday 31 March 2016

Kansai Nerolac Paints soars 4%; sells Chennai land

Brigade Group and GIC have announced the acquisition of a 16 acre property in Chennai from Kansai Nerolac Paints Ltd for a sale consideration of Rs. 537.86 crore.

Kansai Nerolac PaintsKansai Nerolac Paints Ltd was up 4% at Rs. 290. Brigade Group and GIC have announced the acquisition of an 16 acre property in Chennai from Kansai Nerolac Paints Ltd for a sale consideration of Rs. 537.86 crore.

The scrip opened at Rs. 285.2 and has touched a high and low of Rs. 297.9 and Rs. 285.2 respectively. So far 60057(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 15124.23 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 299.35 on 11-Jan-2016 and a 52 week low of Rs. 196.1 on 27-Apr-2015. Last one week high and low of the scrip stood at Rs. 285.25 and Rs. 271.35 respectively.

The promoters holding in the company stood at 69.27 % while Institutions and Non-Institutions held 16.05 % and 14.68 % respectively.

The stock is currently trading above its 50 DMA.

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