Asian Paints Share price: Edelweiss maintain buy rating with target price of Rs 3140
Asian Paints clocked a record-breaking Q3 FY21. However, we had highlighted the possibility of correction post news of Grasim’s entry in the paints segment; Asian Paints has now corrected a healthy 12%. In the paints industry, no new player has touched even INR10bn revenue after 10 years as gaps in either product or servicing are not significant in the industry to exploit.
Asian Paints’s capability to hike prices, should help maintain margin. Edelweiss maintains ‘BUY’ rating with target price of Rs 3140 on Asian Paints: Image taken from asianpaints.com