Motilal Oswal: BUY Asian Paints with target price of Rs 2140
Brokerage house Motilal Oswal has suggested BUY Call for Asian Paints with a target price of Rs 2140. Asian Paints is currently trading at Rs 2025. The stock is looking strong on the technical charts and investors for medium to short term, can expect breakout in this counter.
Asian Paints announced better than expected quarterly results and short term investors can get better returns. Asian Paints has also been suggested as BUY Call by ICICI Direct.
For the quarter ended 30 June 2020, Asian Paints reported consolidated sales of Rs 2922 crore. The sales were down 37% from last quarter sales. The sales were lower by 43% compared to the last year same quarter sales due to COVID-19 lockdowns. Asian Paints reported net profit after tax of Rs 233 crore for the latest quarter.