Asian Paints drops after announcing Q3 results

Asian Paints dropped 4.33% to Rs 870.90 at 13:05 IST on BSE after net profit rose 14.83% to Rs 353.07 crore on 6.4% rise in total income to Rs 3062.17 crore in Q3 December 2014 over Q3 December 2013.

The company announced Q3 results during market hours today, 29 January 2015.

Meanwhile, the S&P BSE Sensex was down 95.63 points or 0.32% at 29,463.55.

On BSE, so far 3.33 lakh shares were traded in the counter as against average daily volume of 1.62 lakh shares in the past one quarter.

The stock hit a high of Rs 922.80, also a record high for the stock. The stock hit a low of Rs 868.10 so far during the day. The stock had hit a 52-week low of Rs 461 on 20 February 2014.

The stock had outperformed the market over the past one month till 28 January 2015, gaining 25.26% compared with Sensex's 8.51% rise. The scrip had also outperformed the market in past one quarter, gaining 40.86% as against Sensex's 9.96% rise.

The large-cap paint manufacturer has equity capital of Rs 95.92 crore. Face value per share is Re 1.

Asian Paints' consolidated net profit rose 11.78% to Rs 368.18 crore on 5.49% fall in total income to Rs 3481.99 crore in Q3 December 2014 over Q3 December 2013.

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