Asian Paints Shares Gain Over 1 % Following Rating Upgrades by HSBC,Jefferies

Following the confidence expressed by multiple brokerage firm  on paint major Asian Paints, the shares of this company jump over 1 per cent during intra day trading on both exchanges.  At 9.41 AM, the shares jumped nearly two percent (1.93 %) to Rs 2,532 on National Stock Exchange (NSE). 

Asian Paints’ Rating Increased By HSBC, Jafferies

On Wednesday, Asian Paints received a notable upgrade from Jefferies, which raised its rating from ‘underperform’ to ‘buy’ and increased the target price to Rs 2,830. This suggests a potential upside of about 14% from current levels.

Positive Outlook For Paint Makers

HSBC also maintained its ‘buy’ ratings for both Asian Paints and Berger Paints, raising their target prices to Rs 2,900 and Rs 640 from Rs 2700 and Rs 620 respectively. Following this, both paint companies saw gains on July 9, as HSBC expects demand to pick up in the second half of financial year 2026.

According to HSBC, the entry of Grasim Industries’ Birla Opus has led to deal incentives becoming more balanced across the major players, which is a positive sign in terms of competition. Birla Opus is targeting higher efficiency per tinting machine, which could impact the market dynamics.

Home based  ICICI Securities has also changed its rating on Asian Paints and Berger Paints after four year, upgrading its rating from ‘reduce’ to ‘add.’ The brokerage believes the paint industry will likely see revenue growth in FY26 after a decline in FY25. However, they chose ‘add’ instead of ‘buy’ because the market is expected to get more competitive with Birla Opus aiming for around 10% market share in three years, and JSW Paints and Akzo Nobel India potentially battling for the third spot along with Kansai Nerolac.

Despite these challenges, ICICI Securities remains hopeful about industry growth improving in the second half of FY26.

Asian Paints Share Price

As of 1.30 PM, its shares were trading at Rs 2,498 On BSE. Shares opened at Rs. 2510 and touched a high of Rs 2,534. 

Also Read:  Samsung Q2 Operating Profit Drops 56% As Trade Restrictions And Tariffs Weigh On Revenue