Analysts are pessimistic about Asian Paints Share price growth. The company is facing a sudden resistance from the market analysers due to its quarterly results. Asian Paints share price of the company is Rs. 2,927.70 per share. EBIDTA fell in numbers after which analysts became more concerned. The company is the number one paint manufacturer in India. In a recent analysis, almost half of the experts ask for the selling out. Let us explore more about it below.
Asian Paints Receives Pessimistic Analysis
Asian Paints analyst survey shares 16 analysts asking to sell out the shares. While 11 are asking to hold out and 11 are bullish with buy calls. Asian Paints is going in red for the one-year performance. In the previous year, the company showed a fall of 9.21% or -297.1 points. In the previous month, the company had a .079% fall. The shares are showing positive growth today with a hike of more than half per cent. Asian paints use different strategies to improve their performance. The company is going through a lot of ups and downs but still maintains the top position.
Asian Paints sales had a 10% increase after it reduced its selling price. The company observed the falling demand and used the price-cutting strategy to maintain the demand. Thus, the company is expected to have more increase in the sales. However, the paint industry depends a lot on the real estate industry. The main reason for its dependence is the increasing slowdown of the industry. The economic conditions of the economy will decide whether the people will invest in buying property and paints further or not. While the company expects to grow further with its come-back strategies.
After the monsoons, the paint company can witness an upsurge in the rural segments. The festive season also promotes the sales of the company. Apart from the recent performance, the pressure from the company’s competitors always remains there. Thus, the best thing is to keep working on the innovative ideas. Asian Paints is giving tough competition to the other companies. Starting from 1 February 1942, the company is breaking new records and achieving new milestones.
Asian Paint’s share price opened at 2,904.80 today with a high of Rs. 2,943.10 per share. The company’s P/E ratio is 51.41. The five-day performance of the company is Rs. 2,927.70 per share. Asian Paints is all ready to shine brighter in the market with upcoming plans and strategies. he share also expects to increase in value shortly.