Subdued raw material prices a boon for Pidilite Industries; stock up 2.9%

The stock of Pidilite Industries (Pidilite) hit an all-time high of Rs 1,644.75 in intra-day trade on Thursday, before closing 2.9 per cent higher at Rs 1,629.35.
 
The recent announcement of a 70 per cent acquisition in Tenax India would be beneficial for Pidilite, given it expands the company’s adhesives portfolio in the marble and stone industry.
 
Tenax India Stone is an Indian distributor of Tenax SPA Italy’s marble and stone adhesive/chemical products.
 
But more importantly, benign raw material prices have been the stock’s key driver, considering the tepid volume growth clocked by Pidilite in the last