Buy Asian Paints, target price Rs 3340: Kotak Securities

Kotak Securities Limited has buy call on Asian Paints with a target price of Rs 3340. The current market price of Asian Paints Ltd. is Rs 3248.3. Time period given by analyst is Intra Day when Asian Paints Ltd. price can reach defined target.

Asian Paints Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 311518.67 Crore) operating in Building Materials sector.

Asian Paints Ltd. key Products/Revenue Segments include Paints, Enamels, Varnishes & Black, Other Operating Revenue and Sale of services for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 8599.05 Crore, up 18.87 % from last quarter Total Income of Rs 7234.21 Crore and up 24.87 % from last year same quarter Total Income of Rs 6886.39 Crore. Company reported net profit after tax of Rs 1016.33 Crore in latest quarter.

Investment Rationale
Breakout from Ascending Triangle with rising volume suggests bullish continuation to persist.

Promoter/FII Holdings
Promoters held 52.63 per cent stake in the company as of 31-Mar-2022, while FIIs owned 19.45 per cent, DIIs 7.58 per cent.