Shalimar Paints Ltd approves diversification into hygiene segment

The Board of Directors("Board") of Shalimar Paints Limited ("Company") at its meeting held today i.e. May 23, 2020, has approved the diversification into the hygiene segment with launch of sanitizer and disinfectant.

This initiative besides reinforcing the Company's commitment of being a responsible corporate is also in line with the vision of our Prime Minister of an "Atmanirbhar Bharat". The Company will leverage the synergies between the existing business of manufacturing paints for the raw material and manufacturing process as well as the distribution network around the Country for this diversification.

Shares of SHALIMAR PAINTS LTD. was last trading in BSE at Rs.54.8 as compared to the previous close of Rs. 55.4. The total number of shares traded during the day was 2423 in over 57 trades.

The stock hit an intraday high of Rs. 56 and intraday low of 53.95. The net turnover during the day was Rs. 132095.

Source : Equity Bulls

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