With the Union Budget set to be announced shortly, Asian Paints stocks increased by 9.25 points to open at 1,363.90.
The BSE group ‘A’ stock of face value Re 1 has touched a 52-week high of Rs 1,529.95 on 3 April 2019 and a 52-week low of Rs 1,119.60 on 23 October 2018.
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Asian Paints shares have risen 5.5% in the last one year compared with 12% gain in the benchmark Nifty 50 index. The promoter holding in the company stood at 52.79%, while Institutions and Non-Institutions held 25.84% and 21.32%, respectively.
Life Insurance Corporation of India (LIC) has recently sold over 19.2 million shares, representing about 2% stake of Asian Paints, through the open market transaction. With the sale of these shares, the stake of LIC in Asian Paints has now come down to 3% from 5% earlier.
Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services. The Company's business segments are Paints and Home Improvement.
Besides Asian Paints, the group operates around the world through its subsidiaries Berger International, Apco Coatings, SCIB Paints and Taubmans, Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.
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