City-based paints company Berger Paints was planning to diversify into new home decor business beside it’s core product paints. The company in a notice to shareholders said it was considering the business opportunities available in various areas relating to home decor, construction industry and adhesive and will leverage its manufacturing and marketing strength. Berger will be seeking shareholders nod to pave the way to venture into new businesses.
The enabling resolution will contain the entire gaumut of products covering almost all products used in home decor. Company officials did not responsed to calls and messages on the issue.
Berger Paints makes industrial paints and consumer products like metal and wood paints, interior wall coatings, exterior wall coatings and clear coats for wood. The market reacted negatively to the news with a decline of 0.5 per cent to Rs 249.70 a share from previous closing in BSE.