Asian Paints shares gain 3% after equity worth ₹7,703 crore changes hands

Shares of Asian Paints Ltd., India's largest paints manufacturer, gained as much as 3% on Thursday, June 12, after a large trade that took place in the stock.

As many as 3.5 crore shares of Asian Paints changed hands in the pre-open block window, according to data available.

Shares changed hands at an average price of ₹2,201 per share, taking the total transaction value to ₹7,703 crore. A total of 3.64% of the company's outstanding equity changed hands in the block deal.

Buyers and sellers in the transaction were not officially known.

India's Mutual Funds have a 5.67% stake in Asian Paints at the end of the March quarter, with ICICI Prudential MF and SBI MF being among the prominent shareholders.

Life Insurance Corporation of India (LIC) has a 8.29% stake in Asian Paints based on the recent shareholding pattern. 11.73 lakh retail or small shareholders, who have an authorised share capital of up to ₹2 lakh, had a 11.84% stake in the company.

Among other public shareholders include Siddhant Commercials Pvt. Ltd., who had a 4.9% stake in the company as of March 31, 2025.

Earlier this week, Asian Paints had received its lowest price target from Morgan Stanley, who became the third brokerage to give the company a price target below the ₹2,000 mark.

Morgan Stanley expects Asian Paints to lead the market share losses over the next three years, having lost 424 basis points worth of market share in the previous financial year, which is much higher than the brokerage's estimates.

In its bear case target, Morgan Stanley has a price target of ₹1,307 for Asian Paints where there would be increased competitive intensity, sluggish volume growth and weak margins.

Out of the 38 analysts that have coverage on Asian Paints, 22 of them now have a "sell" rating on the stock, 10 have a "hold" rating, while only six of them have a "buy" rating on the stock.

Shares of Asian Paints are currently trading 2.1% higher on Thursday at ₹2,254.6.