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    Share price of Berger Paints falls as Nifty weakens

    Synopsis

    A total of 23,134 shares changed hands on the counter till 01:31PM (IST).

    ETMarkets.com
    Shares of (India) Ltd. slipped 0.35 per cent to Rs 750.8 in Tuesday's trade as of 01:31PM (IST). The stock hit a high price of Rs 760.0 and low of Rs 745.5 during the session.

    The return on equity (ROE) for the stock stood at 21.31 per cent. Traded volume on the counter stood at 01:31PM shares and turnover at Rs 1.73 crore around that time. The stock of Berger Paints (India) Ltd. quoted a 52-week high price of Rs 872.0 and 52-week low prices of Rs 618.2, respectively.

    The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.89.

    Promotor/FII Holding
    Promoters held 60.51 per cent stake in the company as of 30-Sep-2021, while overseas investors held 11.22 per cent and domestic institutional investors had 1.15 per cent.

    Key Financials
    The company reported consolidated sales of Rs 1815.52 crore for the quarter ended 30-Jun-2021, down 11.05 per cent from previous quarter's Rs 2041.09 crore and down 93.43 per cent from the year-ago quarter's Rs 938.59 crore. Net profit after tax for the latest quarter stood at Rs 140.59 crore, up 811.74 per cent from the same quarter a year ago.

    Technicals
    The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
    It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.

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