The stock had been trading at its highest price since January 2022. It rose to a record high of Rs3,588 on January 10. After reporting a high consolidated net profit gain of 80.39% year-over-year (YoY) to Rs1,036 crore for the first quarter ended on June 30, 2022, Asian Paints has risen 30% in the past three months. This is due to the business expanding both in volume and value terms. Its operational revenue climbed by 55% YoY to Rs8,579 crore during the quarter.
Asian Paints' domestic decorative division had strong sales growth for the quarter and strong customer demand. One of the largest volume growths in the previous six quarters was observed during the quarter. The company also had strong volume and value growth over the course of the previous four years.
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