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Buy Asian Paints, target Rs 1.855: Jay Thakkar

Buy Asian Paints Ltd. at a price target of Rs 1855.0 and a stoploss at Rs 1770 from entry point.

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Last Updated: Oct 14, 2019, 09.29 AM IST
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Jay Thakkar of Anand Rathi has buy call on Asian Paints Ltd. with a target price of Rs 1855.0 . The current market price of Asian Paints Ltd. is Rs 1799.4. Time period given by the analyst is Intra Day when Asian Paints Ltd. price can reach defined target. Jay Thakkar recommended to keep stoploss at Rs 1770. Asian Paints Ltd., incorporated in 1945, has a market cap of Rs 171696.40 crore.

Asian Paints Ltd. key Products/Revenue Segments include Paints, Enamels, Varnishes & Black which contributed Rs 16196.87 Crore to Sales Value (98.81 % of Total Sales), Other Operating Revenue which contributed Rs 182.34 Crore to Sales Value (1.11 % of Total Sales) and Sale of services which contributed Rs 12.57 Crore to Sales Value (0.07 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 5130.63 Crore, up 2.24 % from last quarter Sales of Rs 5018.21 Crore and up 16.86 % from last year same quarter Sales of Rs 4390.27 Crore Company has reported net profit after tax of Rs 659.90 Crore in latest quarter. The company’s top management includes Dr.S Sivaram, Mr.Abhay Vakil, Mr.Ashwin Dani, Mr.Deepak Satwalekar, Mr.Jigish Choksi, Mr.K B S Anand, Mr.M K Sharma, Mr.Malav Dani, Mr.Manish Choksi, Mr.R Seshasayee, Mr.S Ramadorai, Mr.Suresh Narayanan, Mrs.Pallavi Shroff, Mrs.Vibha Paul Rishi, Ms.Amrita Vakil. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-06-2019, the company has a total of 959,197,790 shares outstanding.

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