Berger Paints gains post joint venture with Japanese company

Berger Paints India Limited has recently signed a pact with Japanese company, Rock Paint Company Limited for setting up a joint venture company in India under the name of Berger Rock Paints Private Limited. The joint venture will be engaged in the production and selling of superior automotive refinish paints in India and Nepal.

The joint venture company will benefit from the market knowledge and infrastructure strength of Berger, India and will receive technical support and expertise with the high end products from Rock Paint, Japan. The share capital of the venture would be 51 per cent held by Berger Paints and 49 per cent held by Rock Paint.

On Friday, the share price of Berger Paints has reached the intraday high of Rs. 297 per share and intraday low of Rs. 291 per share on the BSE. The share recorded its 52-week high at Rs. 305 and its 52-week low at Rs. 230 per share on the BSE.

At 9:50 hours, the stock was trading at Rs. 296.30 per share, up by 2.26 per cent while the BSE Sensex was trading at 35,659.20 level, up by 0.25 per cent and the Nifty50 traded at 10,781.60 level, up by 0.31 per cent.