News Snapshot:
Financial services firm PhillipCapital (India) has put a buy call on Asian Paints and set a target price of Rs 3,400. "Strong brand equity, an extensive distribution network, and a well-diversified product portfolio and its ability to quickly ramp up business within adjacent categories (waterproofing, construction chemicals, putty) make it a "Must-own" company within one’s portfolio," PhillipCapital (India) said. The firm expects healthy consumer demand in the paints industry on the back of a pick-up in projects business, normal monsoon pick-up in real estate activity and a significant ramp-up in new businesses. Also Read: PhillipCapital (India) also sees a gradual...
