Kansai Nerolac Paints reports 44% growth in Q3FY17 net profit
Kansai Nerolac Paints (KNPL) has reported results for third quarter ended December 31, 2016.
The company has reported 44.01% rise in its net profit at Rs 123.96 crore for the quarter under review as compared to Rs 86.08 crore for the same quarter in the previous year. Total income of the company increased by 8.60% at Rs 1168.44 crore for the quarter under review as compared to Rs 1075.94 crore for the corresponding quarter previous year.
Kansai Nerolac Paints is amongst the leading paint companies in India. The company offers a range of products, including decorative, Automotive Coatings and Performance coatings.
Kansai Nerolac to set-up paint manufacturing unit at Visakhapatnam
Kansai Nerolac Paints has received an approval for setting up a paint manufacturing unit at Achutapuram,
Visakhapatnam District in Andhra Pradesh having capacity of 60,000 KL per year, which is expandable in phases, at an estimated cost of Rs 304 crore. The board of directors at its meeting held on January 31, 2017, has approved for the same.
Technical Levels of Kansai Nerolac
Support at 345--340 and Resistance at 360
Break and sustain above 360 will take it to 365--380 and then to 390+ mark in days to come else could touch its support level of 345--340.
Looks weak on close below 340.00
