Berger Paints India rose 1.13% to Rs 233 at 15:22 IST on BSE after consolidated net profit rose 17% to Rs 63 crore on 19% growth in net sales to Rs 962 crore in Q2 September 2013 over Q2 September 2012.
The Q2 result was announced during trading hours today, 1 November 2013.
Meanwhile, the S&P BSE Sensex was up 39.76 points or 0.19% at 21,204.28.
On BSE, 1.44 lakh shares were traded in the counter as against average daily volume of 32,195 shares in the past one quarter.
The stock hit a high of Rs 239.80 and a low of Rs 231.55 so far during the day. The stock had hit a record high of Rs 256.30 on 19 July 2013. The stock had hit a 52-week low of Rs 137 on 31 October 2012.
The stock had underperformed the market over the past one month till 31 October 2013, surging 6.27% as compared to the Sensex's 9.21% rise. The scrip had, however, outperformed the market in the past one quarter, jumping 11.9% compared with the Sensex's 9.4% rise.
The mid-cap company has equity capital of Rs 69.26 crore. Face value per share is Rs 2.
Berger Paints India said that Automotive and Industrial Coatings business was affected by the economic slow down, particularly in the heavy commercial vehicles segment. Protective Coatings business was restrained on account of subdued infrastructure growth. The company's joint ventures continued to perform well, Berger Paints India said in a statement.
Mr. Abhijit Roy, MD, Berger Paints India said, "The company's decorative business recorded good double digit volume growth, driven by healthy performance across all geographies, particularly in Tier 2 and Tier 3 cities".
Berger Paints India manufactures and markets a range of decorative and industrial paint products and has operations throughout India.
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