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    Asian Paints gets upgraded despite weak June quarter show

    ICICIdirect and Emkay Global have maintained hold.

    Synopsis

    Motilal Oswal has upgraded the stock to neutral from sell. The brokerage said that the likelihood of sharp earnings decline, as feared before, may not materialise and it is possible that Asian Paints unlike other discretionary peers would emerge relatively unscathed from the Covid-19 crisis.

    Mumbai: Most brokerages raised their price target on Asian Paints even as it posted a 66.7 per cent decline in its consolidated net profit in the June quarter to Rs 218.45 crore.Shares of Asian Paints ended down 0.95 per cent at Rs 1,710.95 on Friday. The highest increase in price target of almost 24 per cent was by IDBI Capital, which also upgraded its ratings on the stock to accumulate.“Safe painting campaign and promotion of Royal Health
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    The Economic Times