Paint stocks have registered a lacklustre performance on the bourses this calendar year so far.According to ACE Equity data, Kansai Nerolac's shares have tumbled 18.5 per cent year-to-date (YTD) till July 8, followed by Berger Paints, and Shalimar Paints (15.7 per cent each), while Asian Paints stock has taken a 14.8 per cent hit.
In contrast, the Nifty50 has surged 11.9 per cent CYTD, while the broader Nifty500 has soared 18.2 per cent. Such a subdued CYTD showing, analysts said, was due to the sub par March 2024 (Q4FY24) numbers. The expected entry of new players later in the year (Birla Opus) amid weak demand in Q4FY24 also dimmed sentiment.
Going forward, analysts do not expect an immediate trend reversal as overhangs of rising competitive intensity, coupled with weak discretionary spending, are likely to keep stock prices under pressure.
この記事は Business Standard の July 10, 2024 版に掲載されています。
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この記事は Business Standard の July 10, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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