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Asian Paints sees downgrades as competition rises

November 12, 2024

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The Morning Standard

Amid rising competition and other challenges, shares of Asian Paints received multiple downgrades and price target cuts after its September quarter (Q2FY25) earnings missed analyst expectations by a big margin.

- ARSHAD KHAN

Brokerages highlighted that the country's largest paint company has lost market shares with rising competitive pressures and weakness in demand.

Global brokerage Jefferies maintained an "underperform" rating on Asian Paints with a price target of ₹2,100. Jefferies said that it remains concerned about competition which has also blurred the future outlook for the company.

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