Finance Update

CLSA downgrades Asian Paints to sell; stock declines 2%

Last Updated : Apr 09, 2019 10:44 AM IST | Source: Moneycontrol.com






CLSA downgraded the paint company to sell and reduced its target price to Rs 1,400 from Rs 1,565 earlier.













‘);
$(‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]);

//if(resData[stkKey][‘percentchange’] > 0){
// $(‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”);
// $(‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”);
//}else if(resData[stkKey][‘percentchange’] = 0){
$(‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”);
//$(‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”);
$(‘#gainlosstxt_’+articleId).find(“.arw_red”).removeClass(“arw_red”).addClass(“arw_green”);
}else if(resData[stkKey][‘percentchange’] 0)
{
var resStr=”;

var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’;
$.get( “//www.moneycontrol.com/mccode/common/rhsdata.html”, function( data ) {
$(‘#backInner1_rhsPop’).html(data);
$.ajax(,
success:function(d)
{
if(typparam1==’1′) // rhs
{
var appndStr=”;
var newappndStr = makeMiddleRDivNew(d);
appndStr = newappndStr[0];
var titStr=”;var editw=”;
var typevar=”;
var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’);
var phead =’Why add to Portfolio?’;
if(secglbVar ==1)
{
var stkdtxt=’this stock’;
var fltxt=’ it ‘;
typevar =’Stock ‘;
if(lastRsrs.length>1){
stkdtxt=’these stocks’;
typevar =’Stocks ‘;fltxt=’ them ‘;
}

}

//var popretStr =lvPOPRHS(phead,pparr);
//$(‘#poprhsAdd’).html(popretStr);
//$(‘.btmbgnwr’).show();
var tickTxt =”;
if(typparam1==1)
{
var modalContent = ‘Watchlist has been updated successfully.’;
var modalStatus = ‘success’; //if error, use ‘error’

$(‘.mc-modal-content’).text(modalContent);
$(‘.mc-modal-wrap’).css(‘display’,’flex’);
$(‘.mc-modal’).addClass(modalStatus);

//console.log(newappndStr);
//var existsFlag=$.inArray(‘added’,newappndStr[1]);
//$(‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’);
//if(existsFlag == -1)
//{
// if(lastRsrs.length > 1)
// $(‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’);
// else
// $(‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’);
//
//}
}

//$(‘.accdiv’).html(”);
//$(‘.accdiv’).html(appndStr);
}
},
//complete:function(d){
// if(typparam1==1)
// {
// watchlist_popup(‘open’);
// }
//}
});
});
}
else
{
var disNam =’stock’;
if($(‘#impact_option’).html()==’STOCKS’)
disNam =’stock’;
if($(‘#impact_option’).html()==’MUTUAL FUNDS’)
disNam =’mutual fund’;
if($(‘#impact_option’).html()==’COMMODITIES’)
disNam =’commodity’;

alert(‘Please select at least one ‘+disNam);
}
}
else
{
AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’;
commonPopRHS();
/*work_div = 1;
typparam = t;
typparam1 = n;
check_login_pop(1)*/
}
}

function pcSavePort(param,call_pg,dispId)
{
var adtxt=”;
console.log(1);
if(readCookie(‘nnmc’)){
if(call_pg == “2”)
{
pass_sec = 2;
}
else
{
pass_sec = 1;
}
var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’;
$.ajax(,

data:,

dataType:”json”,
success:function(d)
{
console.log(2);
//var accStr= ”;
//$.each(d.ac,function(i,v)
//{
// accStr+=”+v.nm+”;
//});
console.log(d);
$.each(d.data,function(i,v)
{
console.log(3);
console.log(v);
console.log(4);
if(v.flg == ‘0’)
{
var modalContent = ‘Scheme added to your portfolio.’;
var modalStatus = ‘success’; //if error, use ‘error’

$(‘.mc-modal-content’).text(modalContent);
$(‘.mc-modal-wrap’).css(‘display’,’flex’);
$(‘.mc-modal’).addClass(modalStatus);
//$(‘#acc_sel_port’).html(accStr);
//$(‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’);
//$(‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false);
//
//if(call_pg == “2”)
//{
// adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x’;
//}
//else
//{
// adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x’;
//}
//$(‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′);
//$(‘#mcpcp_addprof_info’).html(adtxt);
//$(‘#mcpcp_addprof_info’).show();
glbbid=v.id;
}
});
}
});
} else
{
AFTERLOGINCALLBACK = ‘pcSavePort(‘+param+’, ‘+call_pg+’, ‘+dispId+’)’;
commonPopRHS();
/*work_div = 1;
typparam = t;
typparam1 = n;
check_login_pop(1)*/
}

}


function commonPopRHS(e) {
/*var t = ($(window).height() – $(“#” + e).height()) / 2 + $(window).scrollTop();
var n = ($(window).width() – $(“#” + e).width()) / 2 + $(window).scrollLeft();
$(“#” + e).css({
position: “absolute”,
top: t,
left: n
});
$(“#lightbox_cb,#” + e).fadeIn(300);
$(“#lightbox_cb”).remove();
$(“body”).append(”);
$(“#lightbox_cb”).css({
filter: “alpha(opacity=80)”
}).fadeIn()*/

$(“#myframe”).attr(‘src’,’https://accounts.moneycontrol.com/mclogin/?d=2′);
$(“#LoginModal”).modal();
}

function overlay(n)
{
document.getElementById(‘back’).style.width = document.body.clientWidth + “px”;
document.getElementById(‘back’).style.height = document.body.clientHeight +”px”;
document.getElementById(‘back’).style.display = ‘block’;
jQuery.fn.center = function () {
this.css(“position”,”absolute”);
var topPos = ($(window).height() – this.height() ) / 2;
this.css(“top”, -topPos).show().animate({‘top’:topPos},300);
this.css(“left”, ( $(window).width() – this.width() ) / 2);
return this;
}
setTimeout(function(){$(‘#backInner’+n).center()},100);

}
function closeoverlay(n){
document.getElementById(‘back’).style.display = ‘none’;
document.getElementById(‘backInner’+n).style.display = ‘none’;
}
stk_str=”;
stk.forEach(function (stkData,index){
if(index==0){
stk_str+=stkData.stockId.trim();
}else{
stk_str+=’,’+stkData.stockId.trim();
}
});

$.get(‘//www.moneycontrol.com/techmvc/mc_apis/stock_details/?sc_id=’+stk_str, function(data) {
stk.forEach(function (stkData,index){
$(‘#stock-name-‘+stkData.stockId.trim()+’-‘+article_id).text(data[stkData.stockId.trim()][‘nse’][‘shortname’]);
});
});







Asian Paints declined over 2 percent in morning trade on Tuesday after CLSA downgraded the paint company to sell and reduced its target price to Rs 1,400 from Rs 1,565 earlier.

The stock was in an uptrend in 2019 as it rose by about 9 percent. And, from a one-year perspective, it rose over 30 percent.

CLSA highlights that there is a risk to valuations in the context of macro slowdown. The recent trends from several sectors raise concern on broader consumption.

The input prices have been gradually moving up. The global investment bank has slashed EPS estimates by 2-5 percent led by revenue cuts.

In separate news, a fire broke out in three chemical storage tanks at a unit of Asian Paints in Atchuyuthapuram special economic zone (SEZ), which is under construction.

In terms of earnings, brokerage firms see a stable March quarter with net profit rising by over 30 percent on a year-on-year (YoY) basis.

Kotak Institutional Equities has come out with its fourth quarter (January-March’ 19) earnings estimates for the Consumer Staples sector.

The brokerage house expects Asian Paints (Consolidated) to report net profit at Rs. 661.3 crore up 37.5% year-on-year (up 4.1% quarter-on-quarter).

Net Sales are expected to increase by 18.7 percent Y-o-Y (up 0.6 percent Q-o-Q) to Rs. 5,323.8 crore, according to Kotak.



First Published on Apr 9, 2019 10:44 am


































Source

Prakash Poojary
Business Analyst

Leave a Reply