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.
You might also like:
Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.
Disclosure: The authors at Capital Mind have positions in the market and some of them may support or contradict the material given above, or may involve a direction derived from independent analysis.