Buy Asian Paints, target price Rs 3600: Edelweiss

Edelweiss has buy call on Asian Paints Ltd. with a target price of Rs 3600. The current market price of Asian Paints Ltd. is Rs 3367.15.

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 323077.00 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 30-09-2021, the company reported a Consolidated Total Income of Rs 7234.21 Crore, up 27.48 % from last quarter Total Income of Rs 5674.97 Crore and up 33.16 % from last year same quarter Total Income of Rs 5432.86 Crore. Company reported net profit after tax of Rs 594.97 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 52.79 per cent stake in the company as of 30-Sep-2021, while FIIs owned 20.96 per cent, DIIs 6.83 per cent.