Asian Paints rises 3% ahead of results

Stocks

The share touched 52-week high of Rs 3,588.05 and 52-week low of Rs 2,521.60 on 10 January 2022 and 11 May 2021 respectively.

Asian Paints

Asian Paints

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Asian Paints share price rose more than three percent ahead of March quarter results later today.

Brokerages expect consolidated profit after tax (PAT) for Mumbai based Asian Paints to increase 7-9 percent on year. On a sequential basis, PAT is seen skidding by 8.5-10.5 percent due to sudden and steep surge in raw material prices.

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Revenues for the quarter are expected to grow 10 to 18 percent on volume and value growth aided by price hikes effected by the company to partially offset the surge in raw material costs. On a sequential basis, revenues are expected to decline 8-14 percent.

Also Read – Asian Paints Results Preview | Profit may rise 9% and revenue likely to grow up to 18%

At 09:33 hrs Asian Paints was quoting at Rs 3,078.80, up Rs 69.05 or 2.29 percent on the BSE.

The share touched a 52-week high of Rs 3,588.05 and 52-week low of Rs 2,521.60 on 10 January 2022 and 11 May 2021 respectively.

Currently, it is trading 14.19 percent below its 52-week high and 22.1 percent above its 52-week low.

The share price gained 20 percent in the last one year.

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