Stocks News

Berger Paints share price jumps 3% after 51% jump in Q3 profit

Berger Paints India share price jumps over 3 percent in the early trading session on February 10 after the announcement of its Q3 reports.

The paint company reported a 51.2 percent jump in its consolidated net profit on February 9. Company’s consolidated net profit has jumped to Rs 275 crore during the quarter ended on December 2020.

Berger Paints also quoted a net profit growth of Rs 181.9 crore during the same quarter year ago.

Currently, the company’s revenue from operations is estimated around Rs 2,118.2 crore.  The company’s revenue form operations is currently higher by 25 percent.

This was around Rs 1,695.9 crore in the last fiscal year as per reported by the company in a BSE filing.

Berger Paints shares were trading at Rs 777.95 high at Rs 16.65 or 2.19 percent at 09:26 IST.

The stock has hit an intraday high at Rs 792.10. And on the downside, it has reached an intraday low of Rs 771.70.

The stock is currently reflecting a very strong momentum as per the experts. Moreover, the stock is currently moving at a price above shot, medium and long term moving averages.

Also, the company no promoter pledge in leu with FII or FPI or any institution increasing their stake-holding.

Currently the stock is having a very bullish technical ratings along with moving averages and technical indictors are also very bullish.

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