Asian Paints shares slide 4% on rating downgrade post Birla Opus launch
The paint heavyweight has fallen 5.6% in two sessions after the launch of ‘Birla Opus’ by Aditya Birla Group flagship Grasim Industries last Thursday.
The paint heavyweight has fallen 5.6% in two sessions after the launch of ‘Birla Opus’ by Aditya Birla Group flagship Grasim Industries last Thursday.
The paint company targets ₹10,000 crore revenue in 3 years.
The sales of the company’s domestic decorative business grew 12% in terms of volume and 5.5% in terms of sales.
More than a dozen Nifty 50 Stocks have failed to deliver returns that a fixed deposit account would have delivered in a year.
The company attributes improved margins owing to operational, formulation and sourcing efficiencies as well as moderating raw material prices to be the reason behind strong profit growth in Q2.
The non-executive Director of Asian Paints Ashwin Dani died on September 28.
FMCG sector has 13 dollar billionaires, led by Ravi Jaipuria of RJ Corp, followed by promoters of Asian Paints.
Promoters from the sector see a decent rise in their net worth despite a tough year.
Asian Paints CEO Amit Syngle says global biz faced macro challenges, adverse forex conditions, resulting in subdued growth in that portfolio
The board of Asian Paints has declared a final dividend of ₹21.25 per equity share, taking the total dividend payout for FY23 at ₹25.65 apiece