Asian Paints has acquired 100% stake in Reno Chemicals Pharmaceuticals and Cosmetics (Reno), having its Registered Office at Santacruz East, Near Asian Paints, Mumbai. The company has acquired 4,950 equity shares of the face value of Rs 100 for an amount of Rs 1.59 billion.

This step has been taken by the company with an objective of using the land and building of Reno to meet its growing infrastructure requirements.

Shares of the company declined Rs 4.1, or 0.37%, to trade at Rs 1,114.40. The total volume of shares traded was 2,540 at the BSE (10.05 a.m., Wednesday).