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The outlook remains muted for Asian Paints as brokerages expect increased competitive pressures to weigh on its revenues.
In the July-September quarter of 2023-24 (Q2FY24), the paints major saw its revenue remain flat at Rs 8,452 crore, which was attributed to an erratic monsoon.
It impacted market sentiment, potentially leading to the deferment of sales to October given the late Diwali this year. ....
A lot also depends on what the market is expecting, however a HIGH for long interest rates can certainly put pressure on global economic growth as well as market multiples. ....
Kajaria Ceramics, the country s leading listed tile manufacturer, has seen its stock fall by 7 per cent over the past month amid concerns about rising input costs and sluggish domestic demand.
Other listed stocks also experienced weakness in September, although there was some recovery in October.
While strong exports are expected to help stabilise domestic market prices, the surge in gas prices over the past couple of months may have impacted margins in the second half of FY24. ....
The Indian market is supported by domestic savings channeled through mutual fund systematic investment plans (SIPs) and improving corporate profitability, despite expensive macro parameters. Domestic-facing sectors, especially capital goods and railways, are expected to outperform in terms of earnings growth. Rising US yields and geopolitical uncertainties are headwinds facing equity markets in the short term. The recent market correction is seen as healthy, and India is considered a long-term buy-on-dip market. ....