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.
Bu hikaye Business Standard dergisinin July 10, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin July 10, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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