Share price of Asian Paints gained nearly 2% ahead of the firm's Q4 earnings set to be announced later in the day. Asian Paints share price rose up to 1.93% to Rs 1,685 against previous close of Rs 1653 on BSE.
Asian Paints share is trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages. The large cap stock has gained 5.23% in four sessions. Market cap of the firm rose to Rs 1.61 lakh crore.
Asian Paints share has lost 5.81% since the beginning of this year and gained 21.7% during the last one year. Total 0.63 lakh shares of Asian Paints changed hands amounting to turnover of Rs 10.51 crore on BSE. The stock climbed to its 52 week high of Rs 1,915 on March 9, 2020 and 52 week low of Rs 1,291 on July 9, 2019.
Brokerage Sharekhan sees Q4 net profit to rise 12.1 per cent led by higher operating margins and lower incidence of tax. On the other hand, sales are likely to fall 4.9 per cent in last quarter, on the back of disruption due to lockdown in late March.
"Asian Paints decorative paint volumes are expected to be impacted at the fag-end of the quarter due to supply disruption. Industrial/auto paints continue to remain under pressure," Sharekhan said in a note.
Another brokerage Edelweiss projects Asian Paints' net profit to rise 11.7 per cent. Revenues are seen falling 8.6 per cent in Q4. "For the quarter, we expect lockdown on account of coronavirus to affect the second half of March leading to Asian paints reporting 2.5 per cent YoY volume dip on a base of 10.5 per cent (Q3FY20 saw 11 per cent volume growth on a base of 22.0 per cent)," Edelweiss said in a note.