Page 6 - Asian Paints

Paint companies Asian Paints and Berger Paints start slashing prices

Paint companies remain unperturbed with competition heating up

CEO's growth correlation remark not meant to doubt GDP data: Asian Paints

Asian Paints Ltd on Wednesday said its Managing Director & CEO Amit Syngle's comments on correlation between growth in the paint industry and the GDP were not meant to question the sanctity of the GDP numbers. In a clarification shared on the stock exchanges, Asian Paints said Syngle's comments are being "misinterpreted". His comments were in response to a specific query on the correlation between the growth in the paint industry and the GDP, the company said. "In that context, it was mentioned that the correlation of the paint industry growth with the GDP growth is varying, and we are unable to correlate both, unlike in the past," it added. Historically, the paint industry was seen growing in multiples of 1.5 to 1.75 times the GDP growth; of late, this correlation was distorted. "It was, hence, called out that there is a need for examining the GDP data to understand the reasons for this variance," the company said, referring to the recent social media posts and media articles ...

Asian Paints Q4 results: Net profit rises 1.8%, misses estimates

The company also noted that the quarter saw price cuts across product categories, which further suppressed its revenue growth

Asian Paints, Berger Paints slip up to 4%; hit 52-week lows on weak demand

Asian Paints said decorative business revenues were 1.8 per cent lower than last year impacted by the weak demand environment and downtrading, particularly in the Premium segment.

Asian Paints Q4FY24 results: Profit up 1.8% at Rs 1,256 cr; revenue flat

Asian Paints Limited Q4FY24 results: The company announced an interim dividend of Rs 28.15 per share

Pallavi Shroff refuses second term as Asian Paints' Independent Director

Pallavi Shroff, the Managing Partner of leading law firm Shardul Amarchand Mangaldas & Co, has refused a second term as an independent director of Asian Paints, amidst concerns raised by a proxy firm. Shroff has informed the Board of Directors of Asian Paints that "she will not be able to continue for a second term of appointment as an Independent Director of the company, on account of several new projects that her firm has undertaken leading to enhanced professional and time commitments". She has also confirmed that there are no other material reasons for her non-continuation, according to a recent regulatory filing by the leading paints maker. Earlier, the board of Asian Paints had approved the reappointment of Pallavi Shroff as an independent Director for a second term of two years from April 1, 2024, to March 31, 2026. The company has also issued a Postal Ballot notice on January 17, 2024, to seek approval from its shareholders for the re-appointment of Shroff. E-voting had ...

Stocks to watch: Jio Fin, Vedanta, Info Edge, Asian Paints, Swan Energy

Stocks to watch on March 04, 2024: Jio Financial Services is the sole addition to the S&P BSE Large Cap, as revealed by the Bombay Stock Exchange

Paints shares lose sheen post Birla Opus launch; Asian Paints at 10-mth low

CLSA downgrades Asian Paints to 'sell'

Grasim Industries paints Rs 10K cr sales target in 3 years for Birla Opus

Further, it aims to become the second-biggest player in the Rs 80,000 crore Indian decorative paints market, which is currently dominated by Asian Paints

Grasim gains 2%, hits record high on paint biz launch; Asian Paints dips 2%

The company will launch Birla Opus Paints Business and inaugurate three Birla Opus Paints plants at Haryana, Punjab and Tamil Nadu today on February 22, 2024.

HDFC Bank, ITC: 5 Nifty stocks trading far away from their 52-week highs

Among these five, HDFC Bank, ITC and UPL can potentially rally up to 10 per cent; Whereas, Hindustan Unilever and Asian Paints can crack another 25 per cent, suggest charts.

Mixing resilience in palette: Paint makers tackle slowdown, competitors

Find themselves painted into a corner, blending festival-fuelled revenue with the undertones of sluggishness from price cuts and a subdued luxury mix

RIL, Asian Paints, Axis Bank: Key levels to watch out for post Q3 results

As stocks turn volatile post Q3 results, watch out for these key levels on the likes of ICICI Bank, Hindustan Unilever, CoForge and UltraTech Cement among others and plan your trading strategy.

Asian Paints needs fresh coat as margin pressures build up in markets

As competition intensifies, brokerages turn pale on paint maker's stock

Asian Paints Q3 PAT rises 35% to Rs 1,448 cr, net sales at Rs 9,103 cr

Its decorative and industrial coatings business saw a combined value growth of 6.1 per cent, with a strong double-digit industrial coatings value growth

Asian Paints Q3 results: Net profit up 35% to Rs 1,448 cr on strong sales

Consolidated net profit rose about 35% to 14.48 billion rupees ($174.15 million) in the quarter ended Dec. 31, it said in a filing

Stocks to Watch on Jan 17: Asian Paints, HDFC Bank, LTTS, Godrej Prop, LTIM

Stocks to watch on Wednesday, January 17, 2024: HDFC Bank reported a 34 per cent jump in its standalone net profit to Rs 16,373 crore for Q3FY24, topping estimates by over 1 percentage point

Asian Paints receives three GST demand notices worth Rs 2.07 crore

Asian Paints on Tuesday said it has received three orders for GST demand, totalling Rs 2.07 crore. The total amount includes interest and penalties. The three orders related to the availing of "alleged ineligible Input Tax Credit (ITC)," were received on December 30, the leading paints maker said in a regulatory filing. These include an order passed under the Central Goods and Services Tax Act and Andhra Pradesh Goods and Services Tax Act for FY18-FY20, raising a demand of Rs 1.01 crore, disallowing ITC pertaining to repair and maintenance, travelling, and promotional expenses, and a penalty of Rs 5.72 lakh. Asian Paints had on Monday said it received a demand notice of Rs 13.83 crore and a penalty of Rs 1.38 crore from the Deputy Commissioner of State Tax, Chennai. This was also regarding a mismatch on ITC for FY18. The company said it has "rightly availed the ITC" for all three cases and also fulfilled all conditions prescribed under the Acts. "Further, the company has a stron

Asian Paints gets GST demand notice of Rs 13.83 crore from TN's tax dept

Asian Paints on Monday informed that it has received a GST demand notice of Rs 13.83 crore and a penalty of Rs 1.38 crore from the Deputy Commissioner of State Tax, Chennai. The demand is for the financial year 2017-18 over mismatch on input tax credit (ITC), the leading paints maker said in a regulatory filing. "The company has a strong case based on merits and will be filing rectification and/or appeal against the said order within the prescribed timelines," it added. Asian Paints further said it has discharged applicable taxes on the outward supplies made by the company and has also fulfilled all the conditions prescribed for availing of the ITC. The order was passed under relevant provisions of the Central Goods and Services Tax Act, 2017, and the corresponding provisions of the Tamil Nadu Goods and Services Tax Act, 2017. The department has demanded "additional tax on outward supplies, disallowance on account of ITC mismatch between purchases reported by the supplier in GST .

RIL, banks, IT stocks drag Sensex 188 pts down, Nifty below 19,750

Closing Bell on November 17, 2023: The broader markets, on the other hand, notched gains with the BSE MidCap and SmallCap indices rising 0.27 per cent and 0.36 per cent, respectively