Sep 27, 2013, 10.31 AM IST
India's paints market is set to double every 6-7 years by volume and market leader Asian Paints is well placed to leverage growth, HSBC said in a note on Friday.
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HSBC puts 'overweight' on Asian Paints; sees 25% upside
India's paints market is set to double every 6-7 years by volume and market leader Asian Paints is well placed to leverage growth, HSBC said in a note on Friday.
Like this story, share it with millions of investors on M3
HSBC puts 'overweight' on Asian Paints; sees 25% upside
India's paints market is set to double every 6-7 years by volume and market leader Asian Paints is well placed to leverage growth, HSBC said in a note on Friday.
India's paints market is set to double every 6-7 years by volume and market leader Asian Paints is well placed to leverage growth, HSBC said in a note on Friday.
Asian Paints still stands to deliver volume growth of 9 percent in FY14, after impressive volume growth of 11 percent year-on-year in the first quarter of FY14, it said.
"While the valuation looks expensive, we believe it is actually pricing in relatively modest growth expectations," HSBC said. * At 9.30 a.m., shares in Asian Paints were up 0.5 percent at Rs 482.30.
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