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Espresso shot of the day – Asian Paints Ltd up by 8.51 percent)

Espresso shot of the day – Asian Paints Ltd up by 8.51 percent

May 14, 2021

ASIAN PAINTS LTD 2773.60 (+8.51%) BSE – INE021A01026 | 14TH MAY 2021

The company has come a long way since its small beginnings in 1942. It was set up as a partnership firm by four friends who were willing to take on the world's biggest, most famous paint companies operating in India at that time. Over the course of 25 years, Asian Paints became a corporate force and India's leading paints company. Driven by its strong consumer-focus and innovative spirit, the company has been the market leader in paints since 1967. Today, it is double the size of any other paint company in India. Asian Paints Ltd. manufactures a wide range of paints for decorative and industrial use and also offers Wall Coverings, adhesives and services under its portfolio. The company is also present in the Home Improvement and Decor segment and offers bath and kitchen products.  The company also introduced lightings, furnishings and furniture in its portfolio.  In the Health and Hygiene segment, Asian Paints Ltd. offers range of Sanitisers and Surface Disinfectants.

Recent Drivers

  • On May 13, 2021, Asian Paints Ltd. reported quarterly net profit at Rs 852.13 crores in March 2021 up 84.49% from Rs 461.89 crores in March 2020.
  • On May 13, 2021, Asian Paints Ltd reported net sales at Rs 6,651.43 crores in March 2021 up 43.49% from Rs 4,635.59 crores in March 2020.
  • On May 12, 2021, The Board of Directors of the Company at their meeting recommended payment of final dividend of Rs 14.50 per equity share of the face value of Re.1 each for the financial year ended 31st March, 2021. The dividend, if approved by the shareholders will be paid on or after Friday, 2nd July, 2021.
  • On April 6, 2021, Shares of Asian Paints rose after global crude oil prices slumped 4% overnight on concerns over increase in supply from Iran. The fall in crude oil price is positive for paint manufacturers as they use crude oil derivatives as raw materials.
  • On March 30, 2021, Board of Directors at their meeting had approved formulation of Asian Paints Employees Stock Option Plan 2021 ('ESOP') for grant of stock options to eligible Directors and Employees of the Company and its subsidiaries.

(Sources: Moneycontrol, The Economic Times, Livemint)

Technical Force*

  • S&P BSE SENSEX month till date gain up by -0.10%
  • Spurt in volume by more than 6.87 times compare to previous volume. 3 months avg. volume: 1,11,051
  • Quantity traded: 5,03,178 | Deliverable quantity: 78,979 (15.70%)
  • Stock price has jumped more than 85% from one year low level: 1,482.85 | May 19, 2020
  • Daily RSI (14) is near Overbought territory today
  • 52-week-high: 2,871.40 | 52-week-low: 1,482.85

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

4553

3662.25

3213.35

2322.60

1873.70

982.95

534.05

-

Fibonacci Pivot

3662.25

3150.50

2834.35

2630.72

2322.60

2014.48

1810.85

1494.70

982.95


Today’s Close

2773.60

SMA

BSE

10 DAY

2582.32

20 DAY

2579.64

50 DAY

2511.81

200 DAY

2301.38

Some Key Ratios (Source: BSE)

Market Cap: 2,66,043.10 crores

PE: 87.16

OPM%: 22.86

ROE%: 25.25

Promoters holding%: 52.79

Prev. Close: 2556.10

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.