Asian Paints trades flat despite green nod to Tamil Nadu plant
- Hot Stocks
admin
- 0
- 3 minutes read
In Q2FY24, the paint company reported a consolidated net profit of Rs 1,232.39 crore a 53.31 percent year-on-year increase.
Asian Paints shares saw marginal gains of less than 0.5 percent on the NSE in early trade on December 29, a day after its Tamil Nadu plant received the environmental clearance from the State Environment Impact Assessment Authority. At 9:20am, the stock was trading at Rs 3,400.60.
Follow our market blog for live updates
In a December 28 regulatory filing, Asian Paints said that the company’s Sriperumbudur plant has received the environmental clearance from the state authority.
Also read: Best to enter 2024 with low return expectations from markets, says Kotak. Which sectors to avoid?
In Q2FY24, the paint company reported a consolidated net profit of Rs 1,232.39 crore, posting a 53.31 percent on-year rise. Revenue for the same period was up 0.03 percent to Rs 8 ,478.57 crore from Rs 8,457.57 crore. Earnings before interest, taxes, depreciation and amortisation increased to Rs 1,717 crore from Rs 1219.3 crore, while the EBITDA margin for the same period was 20.2 percent against 14.4 percent a year ago.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
:max_bytes(150000):strip_icc():format(jpeg)/business-team-investment-entrepreneur-trading-discussing-and-analysis-graph-stock-market-trading-stock-chart-concept-1089940388-acef8549576a4d918cb157c6c88ec8a1.jpg "Introduction to Phantom Stocks and SARs")
:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-991180154-aad62bea33e2473a808a24eb81b8e068.jpg "How the Minimum Wage Impacts Unemployment")
:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-1427847593-c401663a1b954137ac712a650eea3a95.jpg "Borrowing from Your Retirement Plan")
:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-1711953018-c9f8489969fb4eb5b4108181d0d42071.jpg "Are We in a Baby Boomer Retirement Crisis?")
:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-1889646212-29894e7d25f24600ab15c966a1c78f89.jpg "The Long, Weird History of Universal Basic Income—and Why It’s Back")