Asian Paints shares fall to 9.5% during intraday trading on Monday, November 11, shares of Asian Paints, the nation’s top paint and décor company, dropped 9.5% to ₹2,506 a share, the lowest level since April 2021. The company’s poor September quarter (Q2) earnings, which fell short of analysts’ estimates, preceded this decline.
Soft demand circumstances, rising material prices, and a downturn in the domestic ornamental and coatings market were the main causes of the reporting quarter’s poor performance, which affected the company’s profitability. These difficulties have caused analysts to lower their target prices for the company.