Asian Paints shares bounce from 52-week low, surge most in over four months; here is why

Shares of Asian Paints, the country's largest paint maker, rebounded from its 52-week low of ₹2,115 it touched in the previous session and rose as much as 4.42% to hit an intraday high of ₹2,215 on the National Stock Exchange (NSE) on Tuesday, March 24. The stock came under buying interest after reports suggested that the company is likely to undertake price hikes going ahead.

On the BSE, Asian Paints shares rose as much as 4.38% to hit an intraday high of ₹2,213.

Global investment bank Macquarie in a note said that first price hike will take effect from April 10 for emulsions, enamels, primers, distempers and neo Bharat range. Price hike has also been taken in thinners effective April 10 and is significantly higher.

Further, another price hike of 6-8% will be effective from April 21 across rest of the portfolio. This includes categories of smart care waterproofing, tile adhesives, wood finishes, etc., Macquarie noted.

Asian Paints shares also got a boost from a dip in crude oil prices in the international markets.

Crude oil plunged 16% in intraday session on Monday after President Donald Trump announced that the United States is imposing a five-day halt period for “any and all military strikes against Iranian power plants and energy infrastructure.” However, oil prices rebounded again after a cooling period on Monday evening over Trump’s further comments on the conflict.

Asian Paints Q3 earnings

Asian Paints earlier this year announced that its net profit declined 4.83% to ₹1,073.92 crore in the December quarter on a year-on-year basis on account of exceptional items, such as the implementation of the new labour code and impairment of loss in a subsidiary.

The company had logged a net profit of ₹1,128.43 crore during the October-December period a year ago, according to a regulatory filing by Asian Paints.

Its revenue from operations rose 3.71% to ₹8,867.02 crore in the December quarter of FY26 from ₹8,549.44 crore in the corresponding period a year ago.

Asian Paints had reported exceptional expenses of ₹157.61 crore. It has recognised a one-time expense of ₹63.74 crore towards an increase in the gratuity liability and an impairment loss of ₹93.87 crore on 'Intangibles', recognised on the acquisition of White Teak. Its profit before exceptional items and tax was up 8.46% to ₹1,646.70 crore in the December quarter.

As of 9:49 am, Asian Paints shares traded 3.1% higher at ₹2,187, outperforming the NIFTY50 index which was up 0.91%.