Sell Asian Paints, target Rs 1240: Dr CK Narayan

Dr CK Narayan of Chart Advise has a sell call on Asian Paints Ltd. with a target price of Rs 1240. The current market price of Asian Paints Ltd. is Rs 1272.7 Time period given by the analyst is Intra Day when Asian Paints Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stoploss at Rs 1285. Asian Paints Ltd., incorporated in 1945, is a largecap company with a market cap of Rs 122077.10 crore.

Asian Paints Ltd. key Products/Revenue Segments include Paints, Enamels, Varnishes & Black which contributed Rs 14316.13 Crore to Sales Value (98.32 % of Total Sales), Subsidy which contributed Rs 162.36 Crore to Sales Value (1.11 % of Total Sales), Processing Charges which contributed Rs 59.21 Crore to Sales Value (0.40 % of Total Sales), Sale of services which contributed Rs 13.04 Crore to Sales Value (0.08 % of Total Sales) and Scrap which contributed Rs 8.81 Crore to Sales Value (0.06 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2018, the company has reported a Consolidated sales of Rs 4639.05 Crore, up 5.67 % from last quarter Sales of Rs 4390.27 Crore and up 8.76 % from last year same quarter Sales of Rs 4265.23 Crore Company has reported net profit after tax of Rs 497.94 Crore in latest quarter. The company’s top management includes Dr.S Sivaram, Mr.Abhay Vakil, Mr.Ashwin Dani, Mr.Deepak Satwalekar, Mr.K B S Anand, Mr.M K Sharma, Mr.Mahendra Choksi, Mr.Mahendra Shah, Mr.Malav Dani, Mr.Manish Choksi, Mr.R Seshasayee, Mr.S Ramadorai, Mrs.Vibha Paul Rishi, Ms.Amrita Vakil. Company has Deloitte Haskins & Sells LLP as its auditoRs As on 30-09-2018, the company has a total of 959,197,790 shares outstanding.