Asian Paints stock rise after Production resumes at Vizag Plant

Share price of Asian Paints rose to an intraday high of Rs1459.40 per share, near  1.5-pc, after the company resumed its business operations at Vishakhapatnam.

Leading paint manufacturing Company, Asian Paints Ltd, has announced that the company has resumed its operations at its Vishakhapatnam (Vizag) plant.  The operation resumed from Monday, after company reported a fire broke out at the plant in April 8.

Asian Paints’ Vizag unit has a production capacity of about 5 lakh kilo-litres paints per year. A fire broke out at this facility on April 8, but the company had informed then that there would not be any negative impact on Company’s operations because of the fire.

Meantime, the Company’s Board will meet on 9th May to approve its financial results (Q4FY1029). Further it plans to recommend a final dividend payout for the fiscal 2019.

On Wednesday, during mid market trade at 13:00 hours, the stock of Asian Paints was trading at Rs.1452.00 per share up by 1.47percent on the NSE, and was among the top gaining stocks of Nifty50.  The Stock which opened at Rs.1436 per share hit an intraday high of Rs.1,459.40.  Meantime, the Sensex traded higher at 38,664-level, up 99 points and the Nifty at 11607-level up 32 points.

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