Why Asian Paints is topping Nifty charts today
Asian Paints shares jumped 5.5% to ₹2,608 on Thursday, topping the Nifty charts even as the broader market stayed flat.
The boost came right after a key competitor's CEO, Rakshit Hargave of Birla Opus, resigned—shaking up the decorative paints scene.
Nomura upgrades rating to 'buy'
If you're watching stocks or just curious about big business moves, this is a good example of how leadership changes and analyst calls can quickly shift investor mood.
Asian Paints also got a lift from being given more weight in the MSCI Standard Index (starting November 24), which usually means more money flowing in from index funds.
Plus, Nomura upgraded its rating to "buy" and hiked its price target to ₹3,100.
Q2 results on November 12
All eyes are now on Asian Paints's Q2 results coming November 12.
With sector challenges still around, investors are hoping these fresh wins translate into solid numbers soon.