Asian Paints slips after bulk deal

Asian Paints fell 1.33% to Rs 1,146.65 at 10:45 IST on BSE after a bulk deal of 3.81 lakh shares was executed on the scrip at Rs 1,149.50 per share at 10:55 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 10.08 points, or 0.03% to 31,299.41

Bulk deal boosted volume on the scrip. On the BSE, 3.94 lakh shares were traded in the counter so far, compared with average daily volumes of 1.16 lakh shares in the past one quarter. The stock had hit a high of Rs 1,166.30 and a low of Rs 1,141.45 so far during the day. The stock hit a record high of Rs 1,230 on 13 October 2016. The stock hit a 52-week low of Rs 850.10 on 22 December 2016.

The stock had underperformed the market over the past one month till 5 June 2017, rising 1.38% compared with 4.86% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 13.61% as against Sensex's 7.97% rise. The scrip had also underperformed the market in past one year, gaining 13.36% as against Sensex's 16.92% 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 rose 10.14% to Rs 479.61 crore on 8.3% rise in total income to Rs 4022.56 crore in Q4 March 2017 over Q4 March 2016.

Asian Paints is India's leading paint company and ranked among the top ten decorative coatings companies in the world.

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