Grasim Industries shares hit a 52-week high of Rs 1,987.95 on 15 September after the company announced its decision to enter the paint business.

The company will be entering the paint business under the brand name of Birla Opus.

The company has already successfully piloted the first-of-its-kind painting services in metro cities and has also introduced a range of imported wood finishes.

The company has already made an investment of Rs 10,000 crore for setting up the paints business.

Mr Kumar Mangalam Birla, Chairman, Aditya Birla Group said, “Our foray into decorative paints is a strategic portfolio choice that enables us to tap into a high-growth market and expand our presence in the vibrant Indian consumer landscape. We endeavour to become a profitable No. 2 player in the coming years and announcing our brand name is the first of many steps that will follow in this direction.”

The company has also established a state-of-the-art Research and development centre in Maharashtra.