See margin expansion for Asian Paints; remain a top pick: Pros

Speaking on Asian Paints stellar third quarter performance, Abneesh Roy, Edelweiss Financial Services and Deepak Shenoy of Capitalmind.in say it was largely on expected lines but the EBITDA growth did beat street and their expectation adds Roy.The company's Q3 net profit jumped 25.8 percent to Rs 463 crore from Rs 368 crore in corresponding quarter last fiscal. However, exceptional hit partially mitigated profit growth.Third quarter was expected to be good because of festive season and low crude prices. Lower oil prices helped the company see further margin expansion.The stock is amongst the top picks for the house, says RoyWith the stock correcting in today’s session, Shenoy says it is because market is not looking at particular stocks and most are getting rerated downwards. However, going forward it is sure to scale fresh highs, he says.