Sell Asian Paints, target price Rs 2600: IIFL

IIFL has sell call on Asian Paints with a target price of Rs 2600. The current market price of Asian Paints Ltd. is Rs 2705.55. 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 259482.19 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 31-03-2022, the company reported a Consolidated Total Income of Rs 7973.06 Crore, down -7.28 % from last quarter Total Income of Rs 8599.05 Crore and up 18.53 % from last year same quarter Total Income of Rs 6726.84 Crore. Company reported net profit after tax of Rs 865.12 Crore in latest quarter.

Investment Rationale
The stock has broken the previous swing low

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.