The city-headquartered company is setting up plant with a 5 lakh KL per annum capacity at Visakhapatnam at an investment of Rs 1,785 crore and a 6 lakh KL plant at Mysuru pumping in Rs 2,300 crore.
Kotak Securities recommended accumulate rating on Asian Paints with a target price of Rs 1320 in its research report dated May 11, 2018.
126 stocks hit a new 52-week low. These included names like Ajanta Pharma, Ambuja Cements, Amtek Auto, Can Fin Homes, HUDCO, Indo Count Industries, Idea Cellular, Mahanagar Gas, OBC, Power Finance Corporation, PNB, Rural Electrification Corporation, Strides Shasun and Union Bank.
The market breadth was in favour of the declines with 753 stocks advancing while 834 declined and 442 remained unchanged. On the other hand, in the BSE, 937 stocks advanced and 961 declined and 78 remained unchanged.
The company had posted a net profit of Rs 479.61 crore in the January-March quarter a year ago.
Rajat Bose of rajatkbose.com is of the view that one can buy ACC with stop loss below Rs 1529.80 and target at Rs 1551, a buy on Bharti Infratel with stop loss below Rs 320 while targets are Rs 332 and Rs 335 while one can sell Asian Paints with stop loss above Rs 1216 and targets are Rs 1197 and Rs 1182.
“Correction in Bank Nifty is likely ahead of weekly expiry.” says Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management Ltd.
Net Sales are expected to increase by 11.2 percent Y-o-Y (up 2 percent Q-o-Q) to Rs. 4,345.7 crore, according to ICICI Direct.
Vinay Rajani, Technical Analyst, PCG Desk at HDFC Securities recommends buying Thomas Cook with target at Rs 325 and stop loss at Rs 260 and a buy also on NRB Bearing with target at Rs 195 and stop loss at Rs 168.
Net Sales are expected to increase by 12 percent Y-o-Y (up 3.9 percent Q-o-Q) to Rs. 4,426.7 crore, according to Prabhudas Lilladher.
"Asian Paints can be bought at current level and on dips to Rs 1165 with a stop loss below Rs 1140 for target of Rs 1260 levels," says Ashish Chaturmohta, Head Technical and Derivatives at Sanctum Wealth Management.
“Recovery from the day’s low despite negative global cues articulates the intrinsic strength of the uptrend in the Nifty. Buy-on-dips is the strategy to be followed,” says Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management.
Chandan Taparia of Motilal Oswal Securities recommends buying Hero MotoCorp, Bharat Forge and Asian Paints.
"The Nifty has formed 'Hammer' candlestick pattern indicating a short term reversal. Furthermore, on hourly scale, oscillators like RSI & MACD has given positive crossover which is a bullish sign," says Rajesh Agarwal of AUM Capital.
Mitessh Thakkar of miteshthacker.com is of the view that one can sell Petronet LNG and buy Motherson Sumi Systems.
Mitessh Thakkar of miteshthacker.com recommends buying Axis Bank with a stop loss of Rs 529 and target of Rs 551 and Britannia Industries with a stop loss below Rs 4900 for target of Rs 5200.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Vedanta and sell Asian Paints.
"A short-term bottom in place around a recent low of 10,276 levels. As the market has moved in a range bound manner in the current week between 10,637 – 10,398, traders should focus for breach of these levels and the move outside this range can be swift in the direction of the breakout," says Mazhar Mohammad Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.
Prakash Gaba of prakashgaba.com is of the view that one can buy Asian Paints and Indian Bank.
Ashwani Gujral of ashwanigujral.com recommends buying Bombay Burmah, Karnataka Bank and Radico Khaitan.
Ashwani Gujral of ashwanigujral.com recommends buying Asian Paints, Britannia Industries and Sobha.
Ashwani Gujral of ashwanigujral.com recommends buying Ashok Leyland with a stop loss of Rs 128 and target of Rs 142, a buy on NIIT Tech with a stop loss of Rs 830, target of Rs 860 and a sell on Bank of India with a stop loss of Rs 145, target of Rs 132.
Geojit Financial Services is bullish on Asian Paints has recommended buy rating on the stock with a target price of Rs 1283 in its research report dated January 24, 2018.
ICICI Direct recommended hold rating on Asian Paints with a target price of Rs 1240 in its research report dated January 24, 2018.
Prabhudas Lilladher recommended accumulate rating on Asian Paints with a target price of Rs 1278 in its research report dated January 23, 2018.