Asian Paints hits new high ahead of Q1 results; up 17% in the last month

Asian Paints hit a new high of Rs 1,473, up 3% on the BSE in intra-day trade on Tuesday ahead of its April-June quarter (Q1FY19) results today. In past one month, the stock of India’s leading and Asia’s third largest paint company has outperformed the market by gaining 17% as compared to 3% rise in the S&P BSE Sensex. Motilal Oswal Securities expects the company to report 32.8% year-on-year (YoY) growth in net profit at Rs 5.82 billion in Q1FY19. “We expect revenue to grow 22% YoY to Rs 46.5 billion in Q1FY19, with 16% volume growth in the domestic decorative b.....

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