New Delhi: Shares of Asian Paints on Friday surged over 6% as the company reported 3.39% increase in consolidated net profit for the quarter ended March 2018.
The stock rose sharply by 6.17% to close at Rs1,289.60 on BSE. During the day, it zoomed 6.56% to Rs1,294.40-its 52-week high. At NSE, shares of the company jumped 5.53% to end at Rs1,285.05. The stock was the top performer among the blue chips on both Sensex and Nifty.
Following the sharp rise in the stock, the market capitalisation (m-cap) of the company climbed Rs7,185.15 crore to Rs1,23,698.15 crore. In terms of equity volume, 3 lakh shares of the company were traded on BSE and over 47 lakh shares changed hands at NSE during the day.
Asian Paints on Thursday reported 3.39% increase in consolidated net profit at Rs495.91 crore for the quarter ended March 2018. The company had posted a net profit of Rs479.61 crore in the January-March quarter a year ago. It reported a total income of Rs4,531.52 crore in the fourth quarter as against Rs4,442.25 crore in the corresponding period a year ago, Asian Paints said in a BSE filing.
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