Market News
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Sensex stocks: HDFC Bank, TCS, Asian Paints, IndiGo, Trent hit 52-week lows
Ambuja Cements, DLF, Dixon, Gail, Indian Hotels, Shree Cement, REC, Tata Motors PV, Wipro, Suzlon, Coforge, and Info Edge, among the BSE 100 index, also hit their respective 52-week lows amid Iran war
Paint firms eye strong March finish
Indian paint companies are optimistic about the current quarter. Demand picked up in November and December. This trend is expected to continue, leading to high single-digit volume growth. Competition remains intense. Companies like Asian Paints, Berger Paints, and Kansai Nerolac report gradual improvement in demand post-Diwali. Birla Opus and JSW Paints are also active in the market.
Taking Stock: Markets continue to see sell-off amid crude surge; rupee at record low
More than 850 stocks touched their 52-week low, including Swan Corp, Interglobe Aviation, GNFC, PNB Housing Finance, Birla Corp, BLS International, Sterling Wilson, RHI Magnesita, Just Dial, Asian Paints, Nuvoco Vistas, REC, Berger Paints, JK Lakshmi Cement, Rashtriya Chemicals, GAIL, Inox Wind, among others.
Asian Paints tops Nifty gainers, Berger jumps 6%; paint stocks rally as Investec turns bullish on sector outlook
Investec said its cautious stance on the paints sector over the past three years was largely driven by aggressive expansion by Birla Opus. However, the brokerage now believes the peak competitive intensity may be over.