Asian Paints share hits all-time high after foreign research house Credit Suisse maintained its outperform stance

Asian Paints share price touched a 52-week high of Rs 3,393.70, gaining over 2 percent in early trade on September 7 after foreign research house Credit Suisse maintained outperform call on the stock with a target of Rs 3,650 per share.

The share price gained more than 69 percent in the last 1-year and it is among the top gainer on the Indices.

According to the research house, the demand buoyancy continues with waterproofing a strong growth area.

It does not see any permanent hit to margin given high pricing power. The early festive season in FY22 & some pent-up demand should aid Q2 demand, said Credit Suisse.

At 09:37, hrs Asian Paints was quoting at Rs 3,354 up to Rs 39.50, or 1.19 percent on the BSE.

The company’s trailing 12-months (TTM) EPS was at Rs 35.41 per share. (Jun, 2021). The stock’s price-to-earnings (P/E) ratio was 94.73. The latest book value of the company is Rs 126.05 per share.

At current value, the price-to-book value of the company was 26.61. The dividend yield of the company was 0.53 percent.

Asian Paints manufactures paints in the category of Decorative, Automative and Industrial segment. Apart from these the company also manufactures various Accessories like, Wall Primer, Putty, and Stainers etc.