Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusiness

Buy Asian Paints; target of Rs 3000: Sharekhan

Sharekhan is bullish on Asian Paints has recommended buy rating on the stock with a target price of Rs 3000 in its research report dated January 21, 2021.

February 01, 2021 / 06:36 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Asian Paints

Asian Paints Limited (APL) registered healthy performance in Q3FY2021 with revenue growing by 25%; OPM improving by 439 bps to 26.3%; PAT growth stood at 62%. Volume growth in the domestic decorative business stood at 33% in Q3, well ahead of 11% volume growth in Q2. Sustained demand for decorative paints in tier III/IV towns and strong uptick in demand for premium paint products in metros coupled with scale-up in home improvement business would help maintain double-digit growth in the coming years.

Outlook

We maintain our Buy recommendation on the stock with a revised PT Rs. 3,000. Leadership positioning in the domestic decorative paints business, focus on becoming a complete play in the home decor space, sturdy balance sheet, and expected higher dividend payout will keep valuations at premium levels.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Feb 1, 2021 06:36 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347