Berger Paints has moved up this morning after net profit grew 23% in the quarter ending September 2011.
According to a press release sent to the stock exchanges on Wednesday, the company has reported a net profit of Rs 49 crore for the quarter ending September 2011 - a rise of 22.5% from the Rs 40 crore reported in the corresponding previous quarter. Nat sales increased 22% in the same period to Rs 720 crore from Rs 590 crore.
The stock has gained 2.2% at Rs 108 this morning after touching a high of Rs 109. Around 28,000 shares have been traded on the BSE so far as against a two-week trading average of 33,000 shares. In the process, the stock is now just 5% away from its 52-week high of Rs 113. It has surged 7% in the last two days.
