Asian Paints stock nears record high ahead of Q1 results

The company saw stable growth in FY21 despite uncertainties arising from the Coronavirus pandemic.

Jul 20, 2021 11:07 IST India Infoline News Service

Asian-Paints1
Mumbai-based Asian Paints stock is in focus on Tuesday ahead of its June 2021 quarterly result announcements. The stock has reached its near-record level.

On Sensex, Asian Paint has surged to an intraday high of Rs3023.40 per piece just a couple of rupees away from the 52-week high of Rs3,091 per piece.

The stock continues to trade over Rs3,000-mark.

At around 11.26 AM, Asian Paint is trading at Rs3006.95 per piece up by Rs27.60 or 1% on Sensex. At the current market price, its market valuation stands more than Rs2.88 lakh cr.

In Q1, the company is expected to record a three-digit growth level in the bottom line front led by a low base. Revenue is also expected to be strong. The company's volume and Covid-19 impact will be keenly watched.

For the full year FY21, the company posted a consolidated net profit of Rs3,207cr up by 15% yoy. While revenue surged by 7% yoy to Rs21,713cr.

The company saw stable growth in FY21 despite uncertainties arising from the Coronavirus pandemic. 

Related Story

Open Free Demat Account (Rs699)