Shares of Asian Paints surged as much as 3% on Wednesday, June 12, after a massive block trade was executed in the pre-open session. According to exchange data, 3.5 crore shares, or 3.64% of the company’s outstanding equity, changed hands at an average price of ₹2,201 per share. The total value of the transaction stood at ₹7,703 crore. However, the identities of the buyers and sellers were not immediately known.
As of the March 2025 quarter, Indian mutual funds held a 5.67% stake in Asian Paints, with major positions from ICICI Prudential MF and SBI MF. LIC also held an 8.29% stake, while retail shareholders with holdings up to ₹2 lakh accounted for 11.84%. Additionally, Siddhant Commercials Pvt. Ltd. had a 4.9% stake in the company.
Earlier this week, Morgan Stanley slashed its target price for Asian Paints below ₹2,000, joining other brokerages with bearish outlooks. The brokerage pointed to concerns over increasing market share losses, with Asian Paints losing 424 basis points in the previous fiscal year. In its bear case, Morgan Stanley projects a target of ₹1,307 citing rising competition, sluggish volumes, and margin pressure.
Currently, out of 38 analysts covering the stock, 22 have a “sell” rating, 10 “hold,” and only six recommend a “buy.”
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