Indigo Paints at life-time low, stock down 36% from its 52-week high

In the past one month, the stock has underperformed the market by falling 11 per cent, after the company reported a disappointing set of numbers for quarter ended September 2021

Shares of Indigo Paints hit a record low of Rs 2,137, down 4 per cent on the BSE in Monday’s intra-day trade on concerns of weak operational performance.

With today’s decline, the stock has corrected 36 per cent from its high of Rs 3,348 touched on February 3, 2021. It was trading at its lowest level since its market debut on February 2, 2021. Indigo Paints had raised funds by issuing shares at price of Rs 1,490.

Indigo Paints is the fifth-largest company in the Indian decorative paint industry in terms of revenue from operations for fiscal 2020