Asian Paints trades higher on acquiring 51% stake in Weatherseal Fenestration
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Asian Paints is currently trading at Rs. 2648.00, up by 12.65 points or 0.48% from its previous closing of Rs. 2635.35 on the BSE.
The scrip opened at Rs. 2669.40 and has touched a high and low of Rs. 2669.40 and Rs. 2629.00 respectively. So far 9306 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3588.05 on 10-Jan-2022 and a 52 week low of Rs. 2585.05 on 14-Jun-2022.
Last one week high and low of the scrip stood at Rs. 2736.00 and Rs. 2585.05 respectively. The current market cap of the company is Rs. 253923.63 crore.
The promoters holding in the company stood at 52.63%, while Institutions and Non-Institutions held 27.06% and 20.31% respectively.
Asian Paints has subscribed to 51% of the equity share capital of Weatherseal Fenestration comprising of 10,409 equity shares of Rs 10 each at a premium of Rs 18,091 per share, issued on preferential basis for an aggregate cash consideration of Rs 18.84 crore. Accordingly, Weatherseal Fenestration is now a subsidiary of the company.
Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services. The Company's business segments are Paints and Home Improvement.
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