Buy Asian Paints, target Rs 1160 : Pritesh Mehta

Pritesh Mehta of IIFL has Buy call on Asian Paints Ltd. with a target price of Rs 1160.0. The current market price of Asian Paints Ltd. is Rs 1129.5. Time period given by analyst is Intra Day, when Asian Paints Ltd. price can reach defined target. Pritesh Mehta recommended to keep stop loss at Rs 1020. The stock has hit a high of Rs 1153.80 and a low of Rs 1068 in day's trading so far. The stock has hit a 52-week high of Rs 1153.80 and a low of Rs 778. The scrip is moving above its 20-day and 50-day moving averages. It has taken support from its 20-day average at Rs 987.89. The stock is trading at a P/E of 64.67 and a price-to-book value of 19.37.