Nomura has reiterated its reduce rating on Berger Paints, setting a target price of ₹500, indicating a potential downside of 3% from the current market price of ₹515. Berger Paints reported a weak Q2, with both volume and sales growth falling below expectations.
In response to the challenging quarter, Berger Paints is embarking on new initiatives aimed at increasing its market share. However, Nomura remains cautious, reflecting the below-estimate performance in its recent results.
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