PT API has obtained the necessary licenses and approvals and has commenced manufacturing operations at this manufacturing plant, it added.
Earlier, the company had informed that PT API was incorporated in Indonesia as a wholly-owned subsidiary of Berger International Private Limited, Singapore (an indirect subsidiary of the company) and that steps were being taken for setting up a manufacturing plant with a capacity of 24,550 ton in Indonesia subject to necessary regulatory and other approvals.
Asian Paints was trading at Rs 1,201.30 per share, up by Rs 4.10 or 0.34% as at 1125 hours on Thursday, on the BSE. The stock attracted a traded volume of 2,09,298 shares and traded value of Rs 2,527.25 lakh on the NSE.
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