Asian, Berger Paints hit record highs on strong Q1 earnings, low oil price

Paint companies Asian Paints and Berger Paints rallied to their respective record highs on the BSE on Tuesday on the back of strong June quarter earnings and fall in crude oil prices.

Berger Paints climbed 5 per cent to Rs 352 after the company posted a better-than-expected 31 per cent year-on-year (YoY) growth in consolidated net profit at Rs 164 crore in Q1FY20, on the back of strong volume growth. The stock surpassed its previous high of Rs 349 touched on August 29, 2018 in intra-day trade.

Operational revenue grew 16 per cent at Rs 1,717 crore on