Stocks to watch this week: A host of stocks would be in focus this week on account of corporate actions and quarterly earnings. SBI, Berger Paints, ZEEL, ITC, BHEL, Karur Vysya Bank, M&M & Lloyds Metals are among stocks to watch this week (August 7-11).
Stocks in focus today: Domestic benchmark indices are marching ahead driven by favourable developments such as declining inflation levels, steady foreign inflows. Bharti Airtel, Bank of Baroda, Vedanta, Adani Enterprises are among the stocks to watch on Tuesday, May 16, 2023.
Shares of paint companies have been buzzing on Dalal Street amid the ongoing fall in crude oil prices and better-than-expected financial results in the June quarter. Here's what analysts about to say about which stock to pick.
As pent-up demand is pushing up volumes, Berger Paints, country’s second largest paints maker in the decorative segment, , is aiming to accelerate and expand its manufacturing capacity. Berger is in the process of setting up a Rs 700-crore plant in Uttar Pradesh and the commissioning of the plant is now being brought forward on account of high capacity utilization at its existing facilities.
Berger Paints managing director and chief executive officer, Abhijit Roy, said, “Originally, we had planned to commission the plant in April of next year, but we will now try and start it in December 2021.” Roy explained that the kind of demand that the company was seeing was not anticipated. “The volume growth in Q3 was almost 32 per cent; obviously our factories are getting a bit stretched and we are operating at very high levels of efficiency at this stage. Therefore, we thought of getting quickly into the manufacturing and expansion phase,” he explained.