Asian Paints has demonstrated a solid performance in recent trading sessions. As of the last trading day, the stock closed at 3,329.10, showcasing a notable return of 14.13% over the past three months. This upward trend highlights the company's steady performance in the market.
The stock has recently fallen below its 20-day Simple Moving Average, currently priced at 3,285.60, reflecting a daily change of -1.31%. Despite this, the average trading volume for Asian Paints over the past seven days stands at 917,684 shares, indicating continued investor interest.
Key Metrics and Financials
Asian Paints boasts a market capitalization of 3,14,103 crore, with a Price-to-Earnings (P/E) ratio of 61.83 and a Price-to-Book (P/B) ratio of 16.17. The company's Earnings Per Share (EPS) on a trailing twelve-month basis is 52.96. The dividend yield stands at 1.02%, and the face value of each share is 1.
The company has managed its expenses efficiently, with less than 1% of its operating revenues spent on interest expenses and 6.55% on employee costs in the year ending March 31, 2024.
Analyst Recommendations and Outlook
Analysts have mixed views on Asian Paints. While some have recommended a 'buy' with target prices ranging from 3,340 to 3,650, others have maintained a 'hold' or 'sell' stance. The consensus among 34 analysts shows a balanced distribution between buy, hold, and sell recommendations.
Morgan Stanley has retained an 'underweight' call on Asian Paints, suggesting potential downside risks. However, the overall sentiment remains cautiously optimistic given the company's historical performance and market position.
Upcoming Corporate Actions
Asian Paints has fixed October 31, 2024, as the record date for the payment of an interim dividend. The company will also hold a meeting of the Board of Directors on October 23, 2024, to consider the dividend and other matters.
