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Hot Pursuit
10-Jul-24
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Paint stocks jump after price hikes by industry leaders
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Shares of seven paint companies surged by 0.70% to 11% after industry leaders Asian Paints and Berger Paints reportedly implemented price increases.
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Indigo Paints (up 11%), Sirca Paints India (up 5.62%), Kansai Nerolac Paints (up 3.40%), Asian Paints (up 3.27%), Berger Paints India (up 2.53%), Shalimar Paints (up 1.24%) and Akzo Nobel India (up 0.70%) surged.
Asian Paints, India's largest paint manufacturer, reportedly hiked prices by 0.7-1% across its product portfolio. Berger Paints, another major player in the industry, is reportedly implementing a similar price increase of 0.7-1%, effective 22 July 2024.
The price hikes by these leading companies could signal a potential trend in the paint sector. Investors reacted positively to the news, as evidenced by the surge in paint company stocks.
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Previous News |
Asian Paints
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18-Jul-24
10:33
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Foreign Markets
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Sensex breaches 81k; Nifty tops 24,700; European mkt opens higher
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Market Commentary
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Mid-Session
18-Jul-24
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Asian Paints slides as Q1 PAT drops 25% YoY to Rs 1,170 cr
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Hot Pursuit
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18-Jul-24
11:44
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Barometers edge lower; breadth negative
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Market Commentary
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Mid-Session
18-Jul-24
09:37
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Asian Paints consolidated net profit declines 24.54% in the June 2024 quarter
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Results
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Announcements
17-Jul-24
17:53
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Asian Paints Q1 PAT drops 25% YoY to Rs 1,170 cr
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Hot Pursuit
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17-Jul-24
16:35
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Akzo Nobel India to convene board meeting
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Corporate News
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11-Jul-24
10:39
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Paint stocks jump after price hikes by industry leaders
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Hot Pursuit
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10-Jul-24
15:31
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Berger Paints India to discuss results
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Corporate News
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09-Jul-24
09:47
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Berger Paints India schedules AGM
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Corporate News
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06-Jul-24
17:33
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