Kansai Nerolac Paints Limited makes further investment in Bangladesh arm

Kansai Nerolac Paints Limited, has a subsidiary in Bangladesh by the name, Kansai Nerolac Paints (Bangladesh) Limited (formerly known as RAK Paints Limited), wherein the company holds 55% of paid-up share capital.

The Bangladesh subsidiary, Kansai Nerolac Paints (Bangladesh) Limited, has announced that in a further issue of shares by the subsidiary, the company has been allotted 1,65,00,000 equity shares of the face value of BDT 10 per share. The equity contribution of the company in the further issue of shares by the Bangladesh subsidiary is BDT 165 million (~INR 14.33 crores). The percentage shareholding by the Company in the said subsidiary remains the same.

Shares of KANSAI NEROLAC PAINTS LTD. was last trading in BSE at Rs.603 as compared to the previous close of Rs. 624.7. The total number of shares traded during the day was 61352 in over 5673 trades.

The stock hit an intraday high of Rs. 649 and intraday low of 601.05. The net turnover during the day was Rs. 37855206.

Source : Equity Bulls

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