Shares of Asian Paints today jumped 3% despite the Q4 results missing Street estimates. Brokerages see the stock declining and maintain a ‘sell’ view. CLSA, Investec, Motilal Oswal, Kotak Institutional Equities, Nuvama, and Axis Securities have provided their opinions on the stock. Asian Paints launched Neo Bharat Latex paint to penetrate the unorganized segment. The overall industry may see a shift in market share and cost structures due to the entry of new players.
FMCG major ITC’s weight will go up in the S&P BSE Sensex, resulting in likely inflows of $50 million, according to estimates by Nuvama.
