Asian Paints rises after UBS upgrades to 'neutral', hikes PT

Asian Paints

02/12/2025 07:55

** Shares of Asian Paints ASPN.NS rise 1.8% to 2,919 rupees
** Top gainer on the benchmark Nifty 50 index .NSEI, which is down 0.55%
** UBS upgrades stock to "neutral" from "sell"
** Lifts PT to 3,200 rupees, an upside of 12% to last close, from 2,100 rupees earlier
** Brokerage notes the paintmaker has delivered double-digit volume growth and better-than-expected results in Q2 despite weak demand environment
** UBS sees ASPN's H2 volume outlook as a positive, and expects market conditions to improve in near term
** ASPN had said it intends to maintain volume momentum in H2
** Stock set for best session since Nov. 13, when ASPN jumped on Q2 profit beat
** Avg rating of 35 analysts is "hold", median PT is 2,750 rupees, ~6% lower than current price - data compiled by LSEG
** YTD, ASPN up ~28%

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))