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Nuvama bullish on Asian Paints after price hikes, sees recovery in coming quarters

Asian Paints' price hike marks a pronounced turnaround in the sector from the price-cut strategy of FY24.

July 11, 2024 / 10:13 IST
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Over the past year, Asian Paints shares have slipped 12 percent in trade.
Over the past year, Asian Paints shares have slipped 12 percent in trade.

Both Asian Paints and Berger Paints have confirmed price hike of up to one percent across most of their portfolios, thus brightening business prospects for them and prompting other players who may follow suit.

With tightening competition in the paints space after Aditya Birla-led Birla Opus' entry, price hikes are likely to assist incumbents preserve margins and pave the way for premium offerings, Nuvama Institutional Equities said.

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The rise in prices will give Asian Paints and Berger Paints, along with any peer that also bumps up its prices, further headroom for increased A&P spends and brand investments.

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