Buzzing stock: This paint company’s share surged over 7 per cent, do you have it?
Investors are extremely positive on this paint sector company after it reported strong profit and sales growth in FY23.
Kansai Nerolac Paints Ltd shares rose more than 7 per cent in the morning session today since the company's bonus ex-date was yesterday. Investors are extremely positive on this paint sector company after it reported strong profit and sales growth in FY23.
During a meeting on May 8, 2023, the business authorised the declaration of bonus equity shares in a 1:2 ratio. When a corporation distributes extra shares to shareholders from earnings or existing reserves, this is known as a bonus share issue.
DSIJ offers a service 'Upstream' with recommendations for contrarian stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
Kansai Nerolac Paints is amongst the leading paint companies in India. The company offers a range of products, including decorative, automotive coatings and performance coatings.
At TTM, the company is having P/E of 37.8 times against the industry P/E of 56. The company is having RoE & RoCE of 10.7 per cent and 14.5 per cent respectively.
At present, the shares of Kansai Nerolac Paints were trading at Rs 321.80 up by 14 points or 4.55 per cent. The shares opened at Rs 323.05 and hit a high of Rs 333.50 and a low of Rs 321.45.