1:5 Bonus Issue: Paint Stock Hits Fresh 52-Week High 3 Days Before Record Date

Large cap company operating in building materials sector, Berger Paints (India) shares hit back-to-back fresh 52-week high for 2 days in a row. The record date for Berger Paints share has been fixed as September 23, 2023. Berger Paints stock rallied 12% in last 3-months and gained 26% in last 6-months. In last 2-years, Berger Paints shares declined 7%. Earlier, Berger Paints recommended bonus issue in the ratio of 1:5 on August 9, 2023. Check details below:

Berger Paints India Fixes Record Date For 1:5 Bonus Issue: As per the BSE filing of Berger Paints dated September 12, 2023, "This is to inform you that pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Company has fixed Saturday, 23rd September, 2023 as the "RECORD DATE", for the purpose of ascertaining the eligibility of shareholders entitled for issue of Bonus Equity Shares of the Company in the ratio of 1 :5, i.e., 1 (One) Equity Share of Re 1/- each for every 5 (Five) Equity Shares of Re. 1/- each, which was recommended by the Board of Directors of the Company vide its meeting held on Wednesday, 9th August, 2023 and for which approval of the shareholders have already been obtained through postal ballot on Friday, 8 th September, 2023."

Berger Paints Stock Performance & Return: Current market price of Berger Paints share on BSE is Rs 754.20 per share with intraday gain of 1.78%. Its 52-week high price is Rs 759.15 per share and 52-week low price is Rs 527.60 per share, respectively. Its market capitalisation is Rs 73,264.68 crore. Berger Paints shares offered return of 20% in last 1-year, gained 30% in last 3-years, and soared 152% in last 5-years.

Berger Paints Financials: It declared 40% year-on-year (YoY) rise in its consolidated net profit for the quarter ended June 30, 2023 at Rs 355 crore as against Rs 254 crore announced in the corresponding quarter of last fiscal. Its revenue from operations surged 9.2% YoY to Rs 3029 crore as compared to Rs 2,773 crore declared in the year- ago period. Meanwhile, the company's standalone Q1 profit growth announced at 39% amid advantageous raw material costs and operational efficiencies.

About: Berger Paints India is headquartered at Kolkata, with 16 strategically located manufacturing units across India (including the subsidiaries), 2 in Nepal, 1 each in Poland and Russia and about 162 stock points. The company also has an international presence in 4 countries (Nepal, Bangladesh, Poland and Russia). With employee strength of above 3450 as on 31st March, 2019 excluding the subsidiaries and a countrywide distribution network of 25,000+ dealers, Berger is acclaimed as a game changer in the sector with a vibrant portfolio of paints and tailor-made customer services in every paint segment, according to its official website.

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