Shares of Asian Paints Ltd on Thursday hit a record high, gaining in nine out of 11 trading sessions, after most broking houses increased their target price on the stock as the company posted better-than-expected earnings. The stock touched an all-time high of Rs.

Rivals Berger Paints India Ltd rose 4. Most of the broking firms, including Credit Suisse, Morgan Stanley, PhillipCapital, Motilal Oswal and Antique Broking, have increased the target price of the stock. The company reported an Income from operations rose Lower raw material prices led to improved margins.

Anand, managing director and chief executive officer of the company, said in a notice to the BSE. The company has consistently delivered on topline and bottomline in the last five quarters, while other FMCG companies have struggled to deliver strong growth.

Also, it has significant pricing power—despite significant fall in raw material prices, it has not been forced to drastically slash prices to defend market share. Home Companies Industry Politics Money Opinion Lounge Multimedia Science Education Sports More Technology Consumer Specials Mint on Sunday.

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Thu, Jul 28 Asian Paints shares BSE Sensex Berger Paints India Kansai Nerolac Paints.

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