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Asian Paints Share Price Gains After Major Block Deal
- Asian Paints share price increased by over 1% following a block deal where 85 lakh shares were exchanged.
- Reliance Industries sold 3.5 crore equity shares of Asian Paints in a previous block deal at an average price of Rs 2,201 per share.
- The total transaction value of the block deal amounted to Rs 7,703 crore.
- SBI Mutual Fund bought the entire 3.64% equity stake in the block deal.
- Asian Paints' share price rose 1.07% to Rs 2,237.90 apiece after the block deal.
- The stock was trading 0.28% higher at Rs 2,220.50 apiece.
- Asian Paints shares have fallen 23.92% in the last 12 months.
- Out of 39 analysts tracking the company, seven recommend 'buy', 10 suggest 'hold', and 22 advise 'sell'.
- The average 12-month consensus price target implies a 3.5% upside.
- Asian Paints' relative strength index was at 36.
- The NSE Nifty 50 advanced by 0.053%.
- The company had a total traded volume 1.6 times its 30-day average.
- Reliance Industries mentioned retaining a balance of 87 lakh shares of Asian Paints.
- The stock market saw a gain of over 700 points with HDFC Bank leading.
- Asian Paints stock news and live updates are available on NDTV Profit.
- The stock market saw a gain of over 700 points with HDFC Bank leading.
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