Limited Asian Paintings (Asian Paints Ltd.) is a large-cap company with a market capitalization of Rs 253,319 crore. It operates in the consumer durable goods industry. Shares of Asian Paints opened at Rs 2,622.05 today and closed at Rs 2,641.00 today. This price shows a decline of 0.74% from its previous closing price of Rs 2660.75.
The giant paint stock touched a 52-week low of 2,585 rupees this morning on NSE and touched a 52-week high of 3,590 rupees on January 10, 2022. This suggests that the stock has reached a 52-week low today today. It is trading down 26% from its 52-week high.
The stock has lost 2.76% in the last five trading sessions and 11.96% last month. Shares of Asian Paints have lost 20.02% over the past six months and are down 22.83% so far in 2022. Meanwhile, after hitting an intraday low of Rs 2,585 (-2, 89%), Asian Paints is now trading below the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
The NASSCOM report said – The IT industry will grow by double digits in the next 5 years, the market size will be $350 billion
US monetary policy tightening has impacted key growth sectors such as housing and autos, new variants of Covid and their impact on global trade, geopolitical tensions such as rising oil prices gross at a record high of Rs 121 since 2008. Due to many reasons like inflation, economic and currency crisis in the global economy, there has been a decline in the share price.
Know what legendary brokerages are saying
HDFC Securities said on Asian Paints that its overall performance was very good despite the challenging environment in Q4FY22. Its management is focused on continued growth, so we gave it a holding rating. A target of 3200 can be seen in this stock.
IDBI Capital says we have revised our outlook on this. We have reduced our EPS estimate for fiscal years 23-24E by 3-4%. Therefore, we have assigned a holding rating to this title with a target of Rs 3453.
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According to news published in Mint, ICICI Securities said Asian Paints has a strong brand, a leading market position and a good balance sheet. We therefore changed our rating on this security from buy to hold. We believe this stock may have a target of Rs 3,400.
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