India's Asian Paints top gainer on Nifty 50 after report of price hikes

JSW Dulux

10/07/2024 10:38

(Updates)
    ** Shares of Asian Paints  ASPN.NS  up 3.5%
    ** Stock is top gainer on Nifty 50  .NSEI , which is down
0.6%
    ** Co hiked prices of products across its portfolio by
0.7%-1% to offset rising input costs, CNBC-TV18 reports
    ** ASPN did not immediately respond to Reuters' request for
comment
    ** Peers Kansai Nerolac  KANE.NS , Akzo Nobel India
 AKZO.NS , Berger Paints  BRGR.NS  up 1%-3.4%
    ** Indigo Paints  INDG.NS  up 10%, most among paint cos, set
for best day since Nov 2022
    ** Analysts, on avg, have a 'hold' rating on Asian Paints,
Nerolac, Akzo Nobel and Indigo Paints; Berger rated 'sell' -LSEG
    ** Nerolac's 14.6% slide YTD is most among peers, followed
by Berger (12.3%) and Asian Paints (11.6%)
    ** Day's move flipped Indigo Paints to YTD gains of 1.3%;
AKZO up 14% YTD

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))