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3w ago

Asian Paints Shares Rise on Rs1,876 Crore Block Deal

SBI Mutual Fund’s purchase of 85 lakh shares at Rs2,207 fueled a 1.07% gain despite a 23.9% year-on-year share price decline.

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Overview

  • The block deal in Monday’s pre-open window saw 85 lakh Asian Paints shares trade at Rs2,207 apiece for a total value of Rs1,876 crore.
  • Asian Paints stock jumped as much as 1.07% to Rs2,237.90 intraday before settling near Rs2,220 on elevated volume.
  • Last week, Reliance Industries sold 3.5 crore shares through Siddhant Commercials at an average price of Rs2,201 per share, raising Rs7,703 crore and retaining 87 lakh shares.
  • The company’s market share in India’s decorative paints market fell from 59% to 52% in FY25 and consolidated net profit dropped 45% in Q4 FY25 amid weak domestic demand.
  • Among 39 analysts tracking the stock, seven rate it a buy, 10 a hold and 22 a sell, with a 12-month consensus price target implying a 3.5% upside.