Asian Paints shares tank over 5% to Rs 1,139; market-cap drops by Rs 6,008 cr post Q2 results


New Delhi: Shares of Asian Paints Tuesday fell over 5 p.c after the corporate reported a 14.76 p.c fall in its consolidated web revenue for the September quarter.

The scrip tanked 5.21 p.c to shut at Rs 1,138.80 on the BSE. Intra-day, it dropped 6.81 p.c to Rs 1,119.60.

The inventory was the worst performer among the many BSE’s 30-pack.

Representational picture. Reuters.

On the NSE, shares of the corporate slumped 4.82 p.c to finish at Rs 1,142.45.

In consequence, Asian Paints’ market valuation tumbled by Rs 6,008.56 crore to Rs 1,09,233.44 crore on the BSE.

By way of fairness quantity, 6.69 lakh shares of the corporate traded on the BSE and over 82 lakh shares modified fingers on the NSE throughout the day.

Asian Paints on Monday reported a 14.76 p.c fall in its consolidated web revenue at Rs 506 crore for the September 2018 quarter.

The corporate had posted a web revenue of Rs 593.66 crore within the July-September quarter a 12 months in the past.

Nonetheless, its complete earnings moved up by 8.66 p.c to Rs 4,702.37 crore throughout the quarter underneath evaluation as towards Rs 4,327.58 crore within the corresponding quarter of the earlier 12 months.



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