Net Sales are expected to increase by 13.8 percent Y-o-Y (up 2.9 percent Q-o-Q) to Rs. 5,277.6 crore, according to Kotak.
Net Sales are expected to increase by 13.1 percent Y-o-Y (up 2.3 percent Q-o-Q) to Rs. 5,247.8 crore, according to ICICI Direct.
According to the research firm, Asian Paints remains one of its favourite long-term plays and expects balanced risk reward at current market price.
Index of Industrial Production and Consumer Price Index data will be released on September 12.
The overall demand for Gold and silver investments have also increased in the current period to an all-time high, due to volatile Indian equity markets and further concerns about the health of the Indian economy.
On September 3, thirty stocks had hit fresh 52-week highs. Meanwhile, the market was witnessing one of its biggest falls in recent months, with Sensex down 800 points and Nifty wiped off nearly 200 points.
Cautious and tepid commentaries by several corporates raise concern for the further earnings downgrades thus, Q2FY20 is expected to be muted as well
Despite the recent selloff in Indian markets, Morgan Stanley maintains its base case scenario of 45,000 on the Sensex by June 2020, and a bull case of 50,000.
1,327 stocks advanced and 430 declined while 335 remained unchanged on the NSE. On the BSE, 1633 stocks advanced, 743 declined and 115 remained unchanged.
18 out of 50 companies in the Nifty50 may remain more vulnerable for a fall as valuation comfort is clearly missing.
ICICI Direct recommended hold rating on Asian Paints with a target price of Rs 1550 in its research report dated July 25, 2019.
Prabhudas Lilladher recommended accumulate rating on Asian Paints with a target price of Rs 1522 in its research report dated July 24, 2019.
Benign raw material prices, however, supported the margins for the entire coatings business, and Ind-AS implementation has no impact on gross margin of the group, the company said
The market has good support at 11,340-11,300 levels. But, the index needs to clear immediate resistance of 11,400-11,420 for the bounce back.
Kotak said it expects 160 bps YoY decline in EBITDA margin led by 70 bps drop in gross margin, higher SG&A and other expenses pertaining to recently commissioned Vizag and Mysuru facilities
Net Sales are expected to increase by 13.3 percent Y-o-Y (down 0.9 percent Q-o-Q) to Rs. 4,974.2 crore, according to Reliance Securities.
Net Sales are expected to increase by 13.1 percent Y-o-Y (down 1 percent Q-o-Q) to Rs. 4,966 crore, according to ICICI Direct.
CLSA said macro factors, tapering growth and volatile crude are worries
ICICI Direct is bullish on Asian Paints has recommended buy rating on the stock with a target price of Rs 1525 in its research report dated May 10, 2019.
Prabhudas Lilladher recommended accumulate rating on Asian Paints with a target price of Rs 1433 in its research report dated May 09, 2019.
Brokerage firms such as CLSA, Macquarie and Credit Suisse slashed their target prices on the stock on muted Q4 results