Asian Paints share price drops 1% after Q2 results 2023

Hello friends, in this article we will talk about the Asian Paints share. Asian Paints Ltd is one of the best Indian multinational paint companies. It’s headquartered in Mumbai, Maharashtra, India. The company is engaged in the business of manufacturing, marketing, and distributing paints, products connected to home decor, coatings, and many more. Asian Paints is a reputable company and currently, this company has been gaining huge attention from the people. Because thousands of people are super curious to know about the Asian Paints company share. Here we have more information about the news and we will share it with you in this article.

Asian Paints

Asian Paints share price drops

Asian Paint’s share cost continued to fall and dropped about a percent in early trade on BSE on Friday, 27 October 2023, a day after the firm noted a flat revenue development but a 54% YoY elevation in its consolidated net earnings for Q2FY24. The stock finished 3.36% more inferior on Thursday, 26 October 2023, after the Q2 earnings. The stock sold 0.45 percent down at 2,945 on BSE at around 9:30 a.m. on Friday. Scroll down to the next page for more information about the news.

As per the report, India’s most extensive paints firm Asian Paints said a close net profit of 1,2054 crores for the September quarter up 54% from 782.7 crores a year ago, despite flat earnings development. Its earnings increased a mere 0.3% to 8,478.57 crores during the quarter under review, especially because of slow demand, a deferred festive season as well as erratic monsoon rains. Last year Asian Paint’s share worth performed badly. The stock is down around 3% in the previous year while the equity benchmark Sensex is alert by about 6% in the same year. You are on the right page for more information about the news, so please read the complete article.

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Nuvama Wealth Management

The share price of Asian Paints hit its 52-week high of 3,566.90 on 24 July 2023 and its 52-week low of 2,686.15 on 27 January 2023. As per the last traded worth, the stock is down about 17 percent. This is the most elevated level of 52 weeks. Nuvman has a buy call on the stock but shortened the target cost to 3,505 from 4,045 earlier. Factoring in a decent Q2FY24, Nuvama has cut FY25 and FY26 EPS (earnings per share) estimations by 5.5% and 5.6% respectively, and decreased its considerable from 60 times to 55 times. Here we have shared all the information that we had. Stay tuned to us for more updates.

Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.