Reacting to this development, the company’s share price rose by 2.2 per cent or Rs 48 to trade at Rs 2,168.50. During the session, the stock touched a high of Rs 2,213.40, reflecting an upside of 4.4 per cent from the previous close of Rs 2,120.50.
Morgan Stanley maintains ‘Underweight’ rating
Following this update, global brokerage firm Morgan Stanley reiterated its ‘underweight’ rating on Asian Paints, with an unchanged target price of Rs 2,126. This target implies a downside of nearly 2 per cent from the current market price. (Asian Paints Share Price Target 2026)
An “Underweight” rating means the stock is expected to underperform its peers or the broader market and should have a lower allocation in a portfolio.
Details of the price hike
Commenting on the price increase, the brokerage highlighted that recent channel checks suggest the company has implemented hikes ranging between 6 per cent and 8 per cent.
It further added that the first round of increases became effective on April 10, followed by a second round on April 21. These hikes span multiple product categories, including emulsions, enamels, primers, and wood finishes.
Among all segments, thinners are expected to witness the highest price increase, according to Morgan Stanley.
Oil prices cross USD 100 mark
Oil prices surged over 4 per cent, crossing the USD 100 mark again. As of 10:15 am (IST), Brent crude was up 4.3 per cent (USD 4.1) at USD 100.02, while WTI futures rose 4 per cent (USD 3.5) to USD 91.67.
Oil is a key raw material in the paint industry, as it acts as a binder—helping pigments spread evenly, adhere to surfaces, and form a durable protective film after drying.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
