Sirca Paints India surges on inking distribution agreement with OIKOS
SIRCA Paints India is currently trading at Rs. 648.35, up by 4.15 points or 0.64% from its previous closing of Rs. 644.20 on the BSE.
The scrip opened at Rs. 649.90 and has touched a high and low of Rs. 658.50 and Rs. 646.00 respectively. So far 2316 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 800.00 on 14-Dec-2022 and a 52 week low of Rs. 598.85 on 15-Mar-2023.
Last one week high and low of the scrip stood at Rs. 666.55 and Rs. 635.30 respectively. The current market cap of the company is Rs. 1774.43 crore.
The promoters holding in the company stood at 67.55%, while Institutions and Non-Institutions held 10.01% and 22.44% respectively.
Sirca Paints India (SPIL) has executed a definitive and exclusive distribution agreement with OIKOS S.P.A. (OIKOS) - Italy’s leading decorative finishes and solid colour finishes (textured paints) brand that stands for sustainable, eco-friendly, paints & colours and fine Italian craftsmanship. This exclusive distribution agreement for the Indian markets also has a provision to manufacture these products in India in the future. The Company will immediately start with the distribution and marketing of OIKOS through its extensive and growing distribution network of 2,400+ nodes across India.
OIKOS Paints product range primarily spans over decorative surface coatings & textured paints for interior and exterior wall surfaces including dry walls of MDF, HDF and Gypsum. These technologically superior products exhibit features such as being water-repellent, resistant to atmospheric pollution, resistant to abrasion, easily cleanable, anti-algae, and anti-mould. These products will be available at premium and luxury price points in the Indian markets.
SIRCA Paints India is engaged in marketing and trading/distributing paints and allied products.