Multibagger Stock Asian Paints Share Price Falls In Trade, Amid Q2 Profit Up 31%

The share price of Asian Paints falls today in trade, on October 21. The company yesterday published which came below expectations. The share price stood at Rs. 3,104.65 a piece, down by around 1.15% in trade. The reason behind today's fall in its share price is a lower-than-expected Q2 earnings report.

According to the company, its net profit increased 33% YoY to Rs. 803.8 crore. Asian Paints stated that its consolidated net profit after minority interest of Rs. 782 crore, stood at lower-than-expected level in Q2, increased by about 31% as compared to Rs. 596 crore in the year-ago quarter. Additionally, the company's revenue from operations increased by around 19% to Rs. 8,457 crore from Rs. 7,096 crore YoY.

The company has also fixed the Record date for its interim dividend on November 1, 2022. The dividend will be paid to the shareholders on or after November 10, 2022.

Asian Paints - stock performance

In the last 5 days, the share of Asian Paints fell by 2.37%, and in the past 1 month it has fallen by 7.49%, stock fell by 1.70% in the last 6 months. Additionally, In the last 1 year its share price surged only by 3.42%, but in the last 5 years it has surged by 162.10%, making it a multibagger stock. It is a mid-cap stock with a market capitalization of Rs. 297,380 crore.

The 52-week high level of this stock is Rs. 3,590, and the 52-week low level of this stock is Rs. 2,560.

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