Large Cap Paint Stock To Consider Dividend, Morgan Stanley Upgrades TP, Record Date Fixed

Large cap paints sector company Asian Paints today rescheduled its meeting of Board of Directors to consider and approve financial results and interim dividend from October 23, 2024 to now November 9, 2024. Consequently, the record date for the aforesaid interim dividend has been fixed as November 19, 2024, if declared. Last trading price of Asian Paints Ltd shares on BSE is Rs 2990 apiece.

Meanwhile, brokerage firm Morgan Stanley has issued "underweight" rating for the large cap stock and upgraded the target price to Rs 2522 per share from Rs 2300 previously. The analyst raised its FY25 EBIDTA margin assumption for Asian Paint to 19% from 18.4%. The company's market capitalisation is Rs 2,86,857.69 crore. Check details below:

Asian Paint Reschedule Board Meet Date: As per the regulatory filing dated October 18, 2024, "This is with reference to our letter no. APL/SEC/42/2024-25/01 dated 13th September 2024, wherein it was informed that a meeting of the Board of Directors of the Company will be held on Wednesday, 23rd October 2024, inter alia, to consider the following:

1) Approval of audited standalone financial results of the Company for the quarter and half year ended 30th September 2024;

2) Approval of unaudited consolidated financial results of the Company for the quarter and half year ended 30th September 2024; and

3) Declaration of interim dividend, if any, for the financial year ending 31st March 2025.

This is to inform you that the aforesaid meeting of the Board of Directors is being rescheduled to Saturday, 9th November 2024.

Record Date For Upcoming Dividend: Consequently, the record date for payment of interim dividend, if declared, will be Tuesday, 19th November 2024.

Asian Paints Dividend In 2024: According to the exchange filing of the paint stock, "recommended payment of final dividend of Rs. 28.15 (Rupees twenty-eight and paise fifteen only) per equity share of the face value of Re. 1 (Rupee one) each for the financial year ended 31 st March 2024, subject to the approval of the shareholders at the ensuing 78th Annual General Meeting of the Company." The ex-dividend date was June 11, 2024.

Asian Paints Share Performance & Return: The 52-week high price of Asian Paints shares on BSE is Rs 3422.00 per share (as on 29/12/2023) and 52-week low price is Rs 2671.00 per share (as on 10/05/2024), respectively. Asian Paints has a ROE of 32.85, PE of 49.20, and EPS (TTM) of 55.73. Asian Paints shares fell 8% in last 1-week, declined 19% YTD, slipped 11% in last 6-months, and fell 10% in last 1-year. In last 5-years, Asian Paints shares zoomed 101%.

Asian Paints Bonus Share, Stock Split History: Asian Paints split face value of shares 1 time since July 30, 2013. Asian Paints last split the face value of its shares from Rs 10 to Re 1 in 2013.The share has been trading ex-split from July 30, 2013. The large cap paint stock declared 2 bonus issues since August 2, 2000. Its last bonus was declared in the ratio 1:2 with ex-date of August 22, 2003.

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