Asian Paints share price added nearly 6 percent in the morning trade on October 27 after the company hiked prices by 7-10 percent.
Asian Paints increased by 10 percent prices across product portfolio except for enamels (6-7 percent price hike); blended price increase at the portfolio level is 8-9 percent, Kotak Institutional Equities said in a report citing dealer interactions. The new prices will be effective from November 12, it said.
On October 21, the company reported a 29 percent decrease in consolidated profit at Rs 605.2 crore for the quarter ended September 2021, as higher input prices dented operating income, missing analysts' expectations.
Higher sales volumes pushed consolidated revenue growth higher than expected at 32.6 percent year-on-year to Rs 7,096 crore.