Asian Paints Ltd., the leading Indian paint company, has seen a significant increase in its stock value in the past 15 days. This success story is reflected in the latest data revealed by Rediff.com, showing Asian Paints' continued growth and market dominance. With a strong hold in the Indian market and expanding international presence, this news highlights the company's constant efforts towards innovation and investment, making it a major player in the global paint industry.
The stock prices of Asian Paints have significantly dropped as global brokerages have lowered their target prices and EPS estimates for the company, citing increased competition from Grasim Industries' Birla Opus paints business. CLSA has downgraded Asian Paints and predicted a decline in growth and margins due to this competition. However, Macquarie maintains an 'Outperform' rating and believes that smaller companies like Berger Paints will be more affected by the new player. Meanwhile, Aditya Birla Group has launched Birla Opus paints business and set a target of Rs 10,000 crore revenue and profitability within three years of full operations.