Kansai Nerolac Paints Ltd., incorporated in the year 1920, is a Large Cap company (having a market cap of Rs 25892.40 Crore) operating in Building Materials sector.

Brent futures were up 10 cents, or 0.1%, at $77.52 a barrel at 11.17 am on Friday, while US West Texas Intermediate crude (WTI) was up 13 cents, or 0.18% at $73.05.

Prabhudas Lilladher recommended accumulate rating on Kansai Nerolac Paints with a target price of Rs 351 in its research report dated November 03, 2023.

Kansai Nerolac has gained 24.12 percent over the last six months against NIfty's 4.65 percent during the same period

Tata Elxsi Limited is a leading global design and technology services provider. On September 26, its stock closed at Rs 7310.9, comfortably exceeding the 50-day SMA of Rs 7263.09.

Geojit is bullish on Kansai Nerolac Paints has recommended buy rating on the stock with a target price of Rs 388 in its research report dated August 31, 2023.

Aditya Birla group firm Grasim Industries aims to become the second largest player in the paints sector which it considers a "high-potential" growth engine along with its new B2B e-commerce business for construction materials, its Chairman Kumar Mangalam Birla said at the company's AGM on Friday.

Prabhudas Lilladher recommended accumulate rating on Kansai Nerolac Paints with a target price of Rs 351 in its research report dated August 04, 2023.

ICICI Securities recommended Reduce rating on Kansai Nerolac Paints with a target price of Rs 300 in its research report dated August 04, 2023.

Even though most brokerages had predicted some margin recovery for paint companies in Q1, the trends of rising input costs and increasing competition may soon water down those expectations.

The Indian paints and coatings industry is likely to grow to Rs 1 lakh crore in the next five years from the current Rs 62,000 crore, according to Akzo Nobel India's annual report. Due to softening of raw material prices, the paint industry's margins are also expected to improve. New entrants in the segment such as Grasim Industries, Pidilite, and JSW have increased competition.

Sentiment for Kansai Nerolac has also improved in the recent times as an decline in Brent crude prices have eased input costs for the paint manufacturer.

Several corporate actions are scheduled for this week. Companies like Adani Enterprises, Mphasis, Biocon, Ashok Leyland, and Axis Bank will trade ex-dividend, while Kansai Nerolac Paints and Aptech will trade ex-bonus. The ex-dividend date is when the share price is adjusted for dividend payouts. Various companies such as ACC, Ambuja Cement, and Bharat Forge will also trade ex-dividend later in the week. Additionally, several companies have fixed dates for their right issues or ex-bonus trading.