Asian Paints drops after bulk deal

Asian Paints lost 1.68% to Rs 470.45 at 13:12 IST on BSE after a block deal of 2.21 lakh shares was executed on the counter at Rs 480.25 per share on BSE today, 27 September 2013.

A bulk deal of 2.21 lakh shares was executed on the Asian Paints counter at Rs 480.25 per share at 09:40 IST on BSE today, 27 September 2013. The bulk deal constituted 0.02% of Asian Paints' equity.

Meanwhile, the S&P BSE Sensex was down 119.78 points or 0.6% at 19,774.07.

On BSE, 2.71 lakh shares were traded in the counter as against average daily volume of 1.03 lakh shares in the past one quarter.

The stock hit a high of Rs 485.75 and low of Rs 470 so far during the day. The stock had hit a record high of Rs 524.70 on 30 July 2013. The stock had hit a 52-week low of Rs 376.35 on 28 August 2013.

The stock had outperformed the market over the past one month till 26 September 2013, rising 11.19% compared with the Sensex's 7.2% rise. The scrip had, however, underperformed the market in past one quarter, rising 6.53% as against Sensex's 7.23% rise.

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

Asian Paints' consolidated net profit fell 4.6% to Rs 275.20 crore on 11.1% growth in net sales to Rs 2818.26 crore in Q1 June 2013 over Q1 June 2012.

Asian Paints is India's largest paint company. The company along with its subsidiaries has operations in 17 countries across the world with 25 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints - Egypt, Asian Paints, Apco Coatings and Taubmans.

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