Grasim Industries’ shares hit a lifetime high on February 22 after the Aditya Birla Group flagship company announced the launch of its paint business under the Birla Opus brand and the inauguration of three new plants.

Grasim Industries’ shares hit a record high of Rs 2,244.00, 2.22% higher than its previous closing price on the National Stock Exchange (NSE). However, the stock lost major gains during the day and closed 0.27% higher at Rs 2,200.00.

The company stated in an exchange filing dated February 22 that Aditya Birla chairman, Kumar Mangalam Birla, announced the launch of their new paint product and the inaugural of three Birla Opus paint plants in Haryana, Punjab and Tamil Nadu.

Aditya Birla Group aims for Rs 10,000 crore gross revenue from the products and services under its new paints brand, Birla Opus, within 3 years of full-scale operations. Grasim will commission two other plants during Q4FY24 and three more in the next 12-15 months.

The brokerage firms noted that Grasim is aggressively positioning itself in this competitive market by spending nearly 60% of its planned capex of Rs 10,000 crore invested in the paints business.

Grasim Industries plans to offer a range of high-quality products in the decorative paints segment. The company entered the paint manufacturing business in 2021 and unveiled the name of its paint brand, Birla Opus, last year.