- Wealth PMS
It seems like the paint industry had a good quarter, after the block buster results of Asian Paints, Nerolac has come out with an amazing 33% increase in net profits and 7.36% increase in revenue.
Kansai Nerolac moved 6% in two consecutive trading days, previous day of results it moved by 2.17% due to speculation of good results with the likes of Asian Paints. On the results day the stock moved up by 3.74% at closed at Rs 341.10 due to more than expected results. ICICI Securities was expecting net profit of Rs 112.40 crore from Kansai Nerolac Paints.
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