India's Asian Paints up on report of price hikes

JSW Dulux

10/07/2024 09:50

** Shares of Asian Paints  ASPN.NS  up 2.2% on track for its
best day in a month
    ** Stock is top pct gainer on Nifty 50  .NSEI  which is down
0.9%
    ** Co hiked prices of its 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 , Indigo Paints  INDG.NS ,
Berger Paints  BRGR.NS  up between 1.2% and 3.9%; Akzo Nobel
India  AKZO.NS  down 0.1%
    ** Analysts on avg have a 'hold' rating on Asian Paints,
Nerolac, Akzo Nobel and Indigo Paints  INDG.NS ; Berger rated
'sell' -LSEG data
    ** Nerolac's 17% slide YTD is most, followed by Berger
(14%), Asian Paints (13%) and Indigo Paints (3.7%)
    ** AKZO only paint-maker to post YTD growth, up ~11%

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