Stocks of Asian Paints Limited closed at Rs1,176.70 per share, down 1.40%, while the benchmark BSE Sensex closed 0.81% higher at 35,798.01 points. Asian Paints’ revenue from operations was flat at Rs4,267.49 crore, although comparable growth in revenue was 10.9% year-on-year, after GST effects on line items. Anand, managing director and chief executive of Asian Paints, said in a statement. This was largely led by higher prices of crude and Titanium Dioxide, both crucial factors in paints markets. “Asian Paints will have to take a price hike, because their gross margin is at just 150 basis points,” Bobade said.

Source: Mint January 22, 2018 12:56 UTC