Asian Paints drops amid volatility after a block deal

Asian Paints lost 0.11% to Rs 487 at 11:57 IST on BSE after a block deal of 4.5 lakh shares was executed on BSE at Rs 491 per share at 10:47 IST.

The block deal constitutes 0.04% of Asian Paints' equity.

Meanwhile, the S&P BSE Sensex was down 266.39 points or 1.31% at 19,997.32.

On BSE, 4.99 lakh shares were traded in the counter as against average daily volume of 90,571 shares in the past one quarter.

The stock was volatile. The stock lost as much as 0.89% at the day's low of Rs 483.20 so far during the day. The stock rose as much as 1.54% at the day's high of Rs 495.10 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 20 September 2013, surging 16.64% compared with the Sensex's 11.06% jump. The scrp had, however, underperformed the market in the past one quarter, advancing 3.04% as against Sensex's 8.25% 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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