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    ASIANPAINT   INE021A01026

ASIAN PAINTS LIMITED

(ASIANPAINT)
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Delayed NSE India Stock Exchange  -  07:25 2022-07-01 am EDT
2773.15 INR   +2.89%
06/28Indian Indices Close Marginally Higher; Oil & Natural Gas Jumps 6%
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06/20Indian Indices Close Higher; Tata Steel Slides 5%
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06/14Asian Paints Completes Acquisition of 51% Stake in Weatherseal Fenestration
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Indian shares post 3-day losing run as IT stocks drag

05/25/2022 | 06:46am EDT
A security guard walks past the logo of the National Stock Exchange inside its building in Mumbai

BENGALURU, May 25 (Reuters) - Indian shares closed lower for a third straight session on Wednesday, pressured by sharp losses in IT stocks, while a risk-off sentiment prevailed on fears of a global economic downturn.

The NSE Nifty 50 index fell 0.62% to 16,025.80 at close, and the S&P BSE Sensex was down 0.56% at 53,749.26.

"Domestic equities are still in a directionless trend because of very high global volatility but mostly this is a sell-on-rise market," said Prashanth Tapse, vice-president of research at Mehta Equities.

The Nifty IT index closed 3.4% lower, having dropped to its lowest in the session since last June. Infosys , Tata Consultancy Services and Wipro fell between 2% and 3.6%.

A hiring freeze and an increase in employee termination to cut costs are likely to slow the unprecedented demand for tech talent in the coming quarters, a Nomura analyst said in a note.

"This could lead to a material fall in attrition in FY24 forecast, a margin tailwind for the (IT) sector," the note added.

Among individual stock moves, Asian Paints was the top percentage decliner on the Nifty 50, falling 8%.

Zinc miner Hindustan Zinc closed 3% higher. It had jumped as much as 7.7% in the session after media reports said https://bit.ly/3LJkibV the government has approved the sale of its stake in the company.

Coal India and InterGlobe Aviation fell 0.9% and 2.2%, respectively, ahead of quarterly earnings results.

Equities in the broader market moved cautiously higher on Wednesday as investors await minutes from the U.S. Federal Reserve's latest policy meeting due later in the day. The U.S. central bank had pledged to aggressively tackle persistent price growth by hiking the cost of borrowing. (Reporting by Rama Venkat in Bengaluru; Editing by Uttaresh.V, Sherry Jacob-Phillips and Shinjini Ganguli)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ASIAN PAINTS LIMITED 2.89% 2773.15 Delayed Quote.-20.33%
COAL INDIA LIMITED -1.27% 183.25 Delayed Quote.27.08%
HINDUSTAN ZINC LIMITED -1.68% 249.4 End-of-day quote.-21.28%
INFOSYS LIMITED 1.20% 1479.4 Delayed Quote.-22.56%
INTERGLOBE AVIATION LIMITED 2.75% 1650.4 Delayed Quote.-20.39%
NIFTY 50 -0.18% 15752.05 Delayed Quote.-9.07%
NIFTY IT -1.05% 28064.25 Delayed Quote.-28.06%
NOMURA CO., LTD. -2.04% 911 Delayed Quote.-2.41%
NOMURA CORPORATION 0.11% 947 Delayed Quote.8.11%
SENSEX BSE30 -0.21% 52907.93 Real-time Quote.-8.99%
TATA CONSULTANCY SERVICES LTD. 1.47% 3315.1 Delayed Quote.-12.61%
WIPRO LIMITED -0.99% 416.05 End-of-day quote.-41.83%
All news about ASIAN PAINTS LIMITED
06/28Indian Indices Close Marginally Higher; Oil & Natural Gas Jumps 6%
MT
06/20Indian Indices Close Higher; Tata Steel Slides 5%
MT
06/14Asian Paints Completes Acquisition of 51% Stake in Weatherseal Fenestration
MT
06/10Indian Benchmarks Close the Week in Red; Kotak Mahindra Bank Slumps 4%
MT
06/09ASIAN PAINTS LIMITED : Ex-dividend day for final dividend
FA
06/06Indian Indices Open the Week in Red; Bajaj Auto Climbs 4%
MT
06/01Indian shares drop for second day as IT, pharma stocks drag
RE
05/25Indian Indices End on Negative Note Midweek; Asian Paints Slides 8%
MT
05/25Indian shares post 3-day losing run as IT stocks drag
RE
05/16Indian Indices Bounce Back; Eicher Motors Surge 8%
MT
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Analyst Recommendations on ASIAN PAINTS LIMITED
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Financials
Sales 2023 340 B 4 303 M 4 303 M
Net income 2023 42 240 M 535 M 535 M
Net cash 2023 40 184 M 509 M 509 M
P/E ratio 2023 61,1x
Yield 2023 0,90%
Capitalization 2 585 B 32 717 M 32 717 M
EV / Sales 2023 7,49x
EV / Sales 2024 6,59x
Nbr of Employees -
Free-Float 54,1%
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Mean consensus HOLD
Number of Analysts 35
Last Close Price 2 695,20 INR
Average target price 3 244,11 INR
Spread / Average Target 20,4%
EPS Revisions
Managers and Directors
Amit Syngle Vice President-Decorative Business
R. J. Jeyamurugan Secretary, Chief Financial & Compliance Officer
Deepak Madhav Satwalekar Non-Executive Chairman
Vibha Paul Rishi Independent Non-Executive Director
Ramaswami Seshasayee Independent Non-Executive Director
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