India's Kansai Nerolac Paints jumps on upbeat demand forecast

Kansai Nerolac Paints

06/02/2025 06:35

** Shares of Indian paintmaker Kansai Nerolac  KANE.NS  rise
3.3% to 253 rupees 
    ** Co said it expects paints demand to improve going forward
on federal budget's consumption-boosting proposals 
    ** Outlook comes at a time when decorative paints demand for
listed players have been under pressure from consumers cutting
back on optional spends and shifting to cheaper labels 
    ** On a standalone basis, results were better-than-expected,
says Investec; recommends "hold" rating on the stock and PT 290
rupees
    ** KANE, on an avg, rated "hold" with median TP 295 rupees -
LSEG 
    ** Q3 was third consecutive qtr of co's rev outperformance
vs market leader Asian Paints  ASPN.NS , Investec adds 
    ** YTD ASPN flat, KANE down 4% 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))