Brokerages broadly see margin moderation ahead for India's Asian Paints; shares fall

Asian Paints

30/07/2026 05:28

** Shares of Asian Paints ASPN.NS down 2% to 2702 rupees, its sharpest drop in 3 weeks
** Paint-maker maintains FY27 volume, margin guidance; beats profit view
** Citi says better margins do not improve the stock's risk-reward, saying competitive intensity remains elevated
** Adds higher paint prices could prompt consumers to delay/downgrade purchases; maintains "sell"
** Morgan Stanley says lower-priced inventory drove the first-quarter margin beat, but expects sequential moderation, while management remains cautious on raw material cost volatility
** Systematix says "competitive intensity remains at all-time high levels with no let-up visible"
** Stock rated "hold" on avg; median PT 2950 rupees - data compiled by LSEG
** Stock down 2.6% YTD
     
          

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))