Berger Paints

Indian Market Closes the Week Lower; Financial Technologies Bleeds More

Jignesh Shah - Financial Technologies

Indian Stock market closed lower on Friday with BSE Sensex losing 153 points to close at 19164. NSE Nifty closed at 5677 after witnessing a decline of 0.87 per cent. Indian currency closed at its lowest level against USD. USD-INR was at Rs 61.10 while EURO-INR was at Rs 81.11. The steps taken by RBI didn’t help the Indian currency.

PNB to buy stake from Principal Financial and Berger Paints

PNB to buy stake from Principal Financial and Berger Paints

Punjab National Bank (PNB), one of the leading state run public sector bank, said on Wednesday that it is going to buy stake in its joint venture partner, Principal Financial Group.

Principal and PNB had joined hands to be part of the life insurance and insurance broking business. Now, the bank is going to buy 26 per cent stake from its Mauritius-based firm.

The other 25 per cent will be bought by the bank from its partner in the insurance broking business, Berger Paints.

Berger Paints net profit surges 31%

Berger Paints net profit surges 31%

Berger Paints India has announced its fourth quarter financial results for the fiscal year 2009-10 and has managed to register an impressive net profit. The company has posted a net profit of Rs 28.17 crore for the quarter that ended in 31st March, 2010.

The net profit figure has grown up by 31% as compared to the same quarter in the preceding year.

So far as the net sales of the firm are concerned, it has touched Rs 434.5 crore during the January-March period of fiscal year 2009-10. It was Rs 350.7 crore for the same quarter last year.