Asian Paints slips 10% in 3-days post Q2 results; stock at 5-month low

With regards to the whistleblower's claim of related party transaction, Asian Paints has clarified the transactions were undertaken in compliance with law and there was no basis for the allegations

Share of Asian Paints dipped 4 per cent to Rs 2,855.60 on the BSE in Monday’s intra-day trade, thus falling 10 per cent in past three trading sessions post Q2 results. The company had reported 28.2 per cent year on year (YoY) decline in consolidated net profit at Rs 595.96 crore in July-September quarter (Q2FY22), due to higher operational cost. The company had posted a profit of Rs 830.37 crore in the year-ago quarter.

The stock hit a five-month low and a quoted at its lowest level since May 25, 2021. It was trading lower for the eight straight