Home / Markets / News / Paints shares lose sheen post Birla Opus launch; Asian Paints at 10-mth low

Paints shares lose sheen post Birla Opus launch; Asian Paints at 10-mth low

CLSA downgrades Asian Paints to 'sell'

Increasing disposable incomes, surge in sales of high-end products and rapid urbanisation, among other things, are driving demand for luxury and premium paints. Source: Adobe Stock

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4 min read Last Updated : Feb 26 2024 | 11:02 PM IST

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Shares of paint companies faced pressure, falling up to 5 per cent on the BSE in Monday’s intraday trade amid concerns that Grasim Industries’ entry into the paint sector will intensify the competition. Asian Paints reached a 10-month low of Rs 2,850, slipping nearly 5 per cent after brokerage firm CLSA downgraded the stock following the Birla Opus launch. The paint maker’s stock traded at its lowest level since April 28, 2023.

Asian Paints eventually settled 4 per cent lower at Rs 2,868.4 on the BSE. The stock has corrected 20 per cent from its 52-week high of Rs 3,566.9 on

Topics : Buzzing stocks Asian Paints Kansai Nerolac Paints Shalimar Paints Indigo Paints Grasim Industries CLSA stock market trading Market trends Berger Paints

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