Shares of Asian Paints Ltd ., India's largest paints manufacturer, are up another 3.5% on Thursday, November 13, extending their gains to 10% in the last two sessions.

Brokerages such as Jefferies and HSBC have revised their price target higher on Asian Paints after it reported strong results for the September quarter that surpassed analyst expectations on all fronts.

Jefferies has raised its price target on Asian Paints to ₹3,300 from ₹2,900 earlier. It stated that the domestic volume growth with market share gains were key highlights from the quarter, led by investments in brands, innovation, and regional activations. This is the second highest price target for Asian Paints on the street.

It went on to add that while competition remains intense, paints is a business of long-term rel

See Full Page