Berger Paints rose to Rs 247.50 in early trades this morning, reacting to an announcement from the company that its wholly-owned subsidiary Bolix, S.A. Poland, has signed a Memorundum of Business Exploration with NBCC Limited for a joint venture to bring External Thermal Insulation and Composite Systems (ETICS) to India.
ETICS, a proven solution for improving energy performance of temperature controlled things, is very cost effective and efficient and is used in over fifteen countries Europe.
NBCC and Bolix will together promote, develop and facilitate the use of ETICS solutions in building products in India. This is expected to help significantly reduce energy requirements for cooling or heating in buildings and result in gains in environmental sustainability.
Berger Paints shares are currently up by about 0.7% at Rs 243. Meanwhile, NBCC is up 1.7% at Rs 184.
