Asian Paints is currently trading at Rs. 3100.90, up by 6.75 points or 0.22% from its previous closing of Rs. 3094.15 on the BSE.
The scrip opened at Rs. 3081.00 and has touched a high and low of Rs. 3110.00 and Rs. 3060.00 respectively.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3365.95 on 04-Jul-2011 and a 52 week low of Rs. 2366.00 on 28-Sep-2010.
Last one week high and low of the scrip stood at Rs. 3150.00 and Rs. 3001.40 respectively. The current market cap of the company is Rs. 29679.02 crore.
The promoters holding in the company stood at 52.65% while Institutions and Non-Institutions held 26.50% and 20.85% respectively.
Asian Paints has received an approval for composite scheme of merger and demerger under section 391 to 394 of the companies act, 1956 and other applicable provisions whereby PPG India, PPG Coatings India (subsidiaries of PPG in India) and AP Coatings (wholly owned subsidiary of the company) will merge with Asian PPG Industries (APPG). The board at its meeting held on September 21, 2011 has approved the same.
The scheme then provides for the demerger of the Liquid Industrial Paints, Powder Coatings and Protective Coatings businesses from APPG into the second joint venture company. Further, the sanction of the said composite scheme is subject to the approval of the High Court of Madras, the High Court of Bombay and such other approvals as may be necessary.
Earlier on January 24, 2011, the company regarding its plans to broaden and deepen the collaboration with PPG Industries Inc. USA (PPG) to jointly accelerate growth of their non-decorative coatings businesses in India, the company and PPG has decided to expand their current 50-50 joint venture, APPG, and also establish a second 50-50 joint venture company.
PPG Industries Inc. USA is one of the world's leading coatings and specialty Products Company.
Asian Paints manufactures paints in the category of Decorative, Automative and Industrial segment. Apart from these the company also manufactures various Accessories like, Wall Primar, Wood Primer, Putty and Stainers etc.
| Company Name | CMP |
|---|---|
| Asian Paints | 2283.05 |
| Berger Paints India | 444.80 |
| Kansai Nerolac Paint | 262.35 |
| Akzo Nobel India | 3590.65 |
| Indigo Paints | 1408.80 |
| View more.. | |
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