Grasim s entry sparks caution but fund managers still favour Asian Paints livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.
Amid the turbulence of the small-cap meltdown, the resilience and potential of top blue-chip companies are evident, and investors are turning to these stocks as safe havens.
Jefferies sees downside risks for industry leader Asian Paints as new entrant Grasim offers a discount of around 5 percent in its paints brand, Birla Opus.
Macquarie has maintained its Outperform rating on Asian Paints with a target price of Rs 4,000, underplaying competition concerns from the launch of Birla Opus.