27 Jul , 2022 By : Monika Singh
Asian Paints share price rose 1.5% on Wednesday morning, a day after the company reported its April-June quarter earnings. Asian paints reported a massive 80.4% rise in consolidated net profit of Rs 1,036 crore in the quarter under review. However, analysts are not too keen on buying the stock and are bearish in their views. “Even as Asian Paints is strengthening its dominance in decorative paints, rapidly scaling adjacencies and RM price outlook is turning favourable, it could go through a year or two of muted earnings growth starting FY2025E as Grasim’s aggressive foray would inevitably weigh on industry profitability,” said Kotak Securities while adding that risk-reward is not favourable. Asian Paints hit a high of Rs 3,156 per share.
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