PREVIEW: India's Kansai Nerolac inches up ahead of Q3 results

Berger Paints India

03/02/2023 04:33

** Shares of Indian paint maker Kansai Nerolac Paints Ltd
 KANE.NS  up 0.2% to 414.6 rupees ahead of Q3 results
    ** Brokerage ICICI Securities says bolstered quarterly
passenger car production will help KANE as the sector
constitutes ~27% of co's revenue
    ** Adds paint cos will likely benefit from carry-over of 25%
price hikes
    ** Co's peer Asian Paints Ltd  ASPN.NS  missed profit view
last month while Berger Paints India Ltd  BRGR.NS  reported a
drop in profit
    ** Eleven of 20 analysts rate stock "buy" or higher, 4
"hold", 5 "sell" or lower; median PT is 517.5 rupees
    ** Stock fell 25.7% in 2022, its second straight annual loss
($1 = 82.1390 Indian rupees)
 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))