Loses Gloss On Shutting Unit Equity Current Company - Nov 20, 2008

The company made this announcement during trading hours on Wednesday, 19 November 2008, when the stock declined 1.29% to Rs 944.35.Meanwhile, the BSE Sensex was down 405.26 points, or 4.62%, to 8,368.52.On BSE, 1,164 shares were traded in the counter. The stock had an average daily volume of 15,663 shares in the past one quarter.The stock hit a high of Rs 922 and a low of Rs 895 so far during the day.

The stock has a 52-week high of Rs 1319.95 on 31 January 2008 and a 52-week low of Rs 830 on 27 October 2008.The mid-cap stock had outperformed the market over the past one month till 19 November 2008, declining 1.03% as compared to the Sensex's decline of 12.05%. It had also outperformed the market in the past one quarter, declining 20.63% as compared to the Sensex's decline of 39.67%.

The company's current equity is Rs 95.92 crore. Face value per share is Rs 10.The current price of Rs 895 discounts the company's Q2 September 2008 annualized EPS of Rs 50.75, by a PE multiple of 17.64.Asian Paints' net profit rose 12.2% to Rs 121.71 crore on 31.1% increase in net sales to Rs 1168.34 crore in Q2 September 2008 over Q2 September 2007.

The company manufactures and markets paints. The group also manufactures phthalic anhydride and pentaerythritol. The group operates in Australia, Fiji, Solomon Islands, Tonga, Vanuatu, Myanmar, China, Thailand, Malaysia, Singapore, Bangladesh, Nepal, Srilanka, Bahrain, the UAE, Oman, Barbados, Jamaica, Trinidad, Tobago, Egypt, Mauritius and Malta.