 "Asian Paints: Volumes driven by strong distribution; low-end products")
The strong March quarter performance, expectations of a bounce-back upon easing of the Covid wave, and management commentary on protecting margins led to an 8.5 per cent jump in the stock price of India’s largest paint company, Asian Paints, on Friday.
Though the 48 per cent jump over the year-ago quarter for Asian Paints was on a soft base, pent-up demand and sequential recovery, especially in Tier 1 cities and metros, led to the gains. Increased construction activity and an uptick in undercoats/waterproofing where it launched new products also helped volumes. The performance in the March quarter helped the company deliver
