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Can Asian Paints stock sustain the momentum?

Can Asian Paints stock sustain the momentum?
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Last Updated: May 15, 2021, 09:28 AM IST
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Synopsis
"Q1 of this year is going to be tough for most of the FMCG companies, including Asian Paints," says Mahantesh Sabarad.
ETMarkets.com
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After Asian Paints stock jumped 8.5 per cent following the release of its quarterly report card, Mahantesh Sabarad, Head, Retail Research, SBICAP Securities, says he is surprised on the stock price movement and would be a little cautious in the near-term. Edited excerpts from his interview with ET Now:
What is your reading of Dr Reddy's numbers?
Apart from the results, one should look at two things. The biggest statement that came from the company was about the rollout of the Sputnik V vaccine. This gives confidence about the future outlook of the company.

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Asian Paints Q3 results: Profit surges 62% to Rs 1,238 crore, beats Street estimates

Asian Paints Q3 results: Profit surges 62% to Rs 1,238 crore, beats Street estimates
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Asian Paints had reported a net profit of Rs 764.43 crore for the corresponding period a year ago.
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Asian Paints posted a net profit of Rs 1,238.34 crore for the quarter ended December 31.
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Asian Paints on Thursday reported a 62 per cent year-on-year jump in net profit to Rs 1,238.34 crore for the December quarter. The paints manufacturer was expected to post a net profit of Rs 940 crore, according to estimates by 13 brokerages polled by ETMarkets.com.
The company had reported a net profit of Rs 764.43 crore for the corresponding quarter last year.

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