Berger Paints India Ltd stock turned active on the bourses today.
The Rs 2 stock moved up around 8 per cent during the mid-session and touched a 52-week high of Rs 166.65. At around 2 p.m., the combined traded quantity in the counter was over 30 lakh shares and it was trading at Rs 162.
Promoter Chairman of the company told Business Line over phone from New Delhi that he was also taken aback by the sudden spurt in volume and price.
“There is not any corporate action in the offing that may trigger a market movement,” he said. He indicated that margins, like in all manufacturing companies, had been under pressure in the quarter gone by.
>jayanta.mallick@thehindu.co.in
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