Moneycontrol
Apr 18, 2017 11:40 AM IST | Source: Moneycontrol.com

Berger Paints up 2%, signs memorandum of business exploration with NBCC

The company's subsidiary Bolix, S.A. Poland and NBCC sign memorandum of business exploration to bring External Thermal Insulation and Composite Systems (ETICS) solutions to India.

Berger Paints up 2%, signs memorandum of business exploration with NBCC

Moneycontrol News

Shares of Berger Paints India rose 2.7 percent intraday Tuesday after its subsidiary signed a memorandum of business exploration with NBCC.

The company's subsidiary Bolix, S.A. Poland and NBCC sign memorandum of business exploration to bring External Thermal Insulation and Composite Systems (ETICS) solutions to India.

"NBCC and Bolix, S.A. Poland signed a memorandum of business exploration at New Delhi, in furtherance of a joint initiative to bring to ETICS, a proven solution for improving energy performance of temperature controlled buildings," company said in release.

"ETICS is a very cost effective and efficient solution and much used in Europe. Germany and Poland are the pioneers in this technology though ETICS is now in use in over 15 countries in Europe."

"NBCC and Bolix will jointly promote, develop and facilitate the use of ETICS solutions n building projects in India with the principal objective of reducing significantly the energy requirements for cooling or heating in these buildings which is expected to result in gains in environmental sustainability," it added.

At 11:26 hrs Berger Paints India was quoting at Rs 242.95, up Rs 1.95, or 0.81 percent on the BSE.

Posted by Rakesh Patil
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