May 11, 2018 / 5:37 AM / 13 days ago

BUZZ-India's Asian Paints hits all-time high; decorative paints business grows

** Asian Paints Ltd climbs as much as 5.8 pct to a record high of 1,288 rupees

** Co posts lower-than-expected March-quarter profit on Thursday, but HSBC analysts say double-digit volume growth in decorative paints business ahead of street expectations

** Decorative volumes increase by double-digits due to better economic environment and recovery from demonetisation, GST disruptions - HSBC

** HSBC raises PT to 1,400 rupees from 1,360 rupees, keeps “buy” rating

** Asian Paints is a long-term structural beneficiary in an attractive industry - HSBC

** Profit below estimates due to decline in other income and rise in tax rate, says Credit Suisse

** Credit Suisse raises rating to “neutral” from “underperform” and PT to 1,220 rupees from 1,100 rupees

** More than 2.2 mln shares change hands, compared with the 30-day moving avg of 705,700 shares

** Fifteen of the 33 analysts covering the stock rate it “buy” or higher, 14 “hold”, 4 “sell” or lower; median PT 1,250 rupees - Thomson Reuters data

** Up to Thursday’s close, stock had risen 5.1 pct this year

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