Asian Paints share price rose over 4 per cent to hit a 52-week high in intraday trade on the BSE on Thursday, November 13, a day after the company reported its July-September quarter (Q2FY26) results. Asian Paints share price opened at ₹2,836.30 against its previous close of ₹2,773.40 and rose 4.5 per cent to hit a 52-week high of ₹2,898.20. Around 11:10 am, the large-cap paint stock traded 3.21 per cent higher at ₹2,862.55.
Asian Paints share price is set to extend gains to the sixth consecutive session. On a monthly scale, the stock has gained over 14 per cent in November so far after a 7 per cent rise in October. Year-to-date, the stock has gained 25 per cent, outperforming the benchmark Sensex, which has gained 8 per cent.
Asian Paints Q2 results
Asian Paints’ Q2 profit rose 43 per cent year-on-year (YoY) to ₹993.59 crore, beating the expectations of 11 analysts polled by Bloomberg, who estimated a profit of ₹894.46 crore.
Revenue from operations rose 6.4 per cent to ₹8,513.70 crore during the quarter. The company declared an interim dividend of ₹4.5 per equity share for the fiscal year 2025-26. The record date to establish which shareholders are entitled to receive the interim dividend has been set for 18 November, with payments to be made to shareholders on or after 27 November.
Asian Paints shares: Should investors buy, sell or hold?
Brokerage firms have mixed views on the stock after the Q2 earnings. JM Financial has maintained a “reduce” call on the stock, with a revised target price of ₹2,800 from ₹2,245 earlier.
“We like Asian Paints’ execution; however, with the recent run-up (20 per cent in the last one month), upsides are capped. We maintain a reduce. Sustained demand recovery will be key for rerating from current levels,” said JM Financial.
“We have raised our estimates by nearly 2-4 per cent, factoring double-digit volume growth in the second half and low-double-digit sales growth for FY27/28E. With improving outlook and stabilising competitive intensity, we raise our target multiple to 50 times (versus 43 times earlier) to arrive at a revised target price of ₹2,800 (earlier ₹2,245),” said JM Financial.
Brokerage firm Motilal Oswal Financial Services has a neutral call on the stock with a target price of ₹3,000. It has increased the EPS estimates by 5 per cent for FY26 and FY27, given the improving demand in Q2FY26 and expanding margins.
“Asian Paints remains focused on innovation, brand salience, regionalisation, and execution excellence to drive consistent growth. While competitive intensity remains elevated, the demand environment is stabilising, and with the peak of disruption behind, Asian Paints appears well-positioned to sustain steady growth and defend its market leadership,” said Motilal Oswal.
“With expectations of better earnings, we raise our target valuation multiple to 50 times (10-year average P/E) on Sep’27E EPS to derive a target price of ₹3,000. We reiterate our neutral rating,” Motilal Oswal said.
Read all market-related news here
Read more stories by Nishant Kumar
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
