Colours of Asian Paints faded in the markets today

Shares of Asian Paints, India's largest decorative paints maker, fell nearly 2 percent on profit booking even after first quarter sales and profit surged on the back of lower raw material costs such as Crude oil.

Asian Paints reported its first quarter profit surged 35 percent to `455 crores versus `338 crore as input costs tumbled. Sales for the April-June quarter stood at `3,580 crores compared with `3,325 crores.

Asian Paints reported a quarterly margin of 19.1 percent versus 16.6 percent in the year-ago quarter.

The stock hit a high of 869 rupees on the National Stock Exchange, but traded at 838 rupees, down 1.7 percent or 14.50 rupees. Nearly 24.5 lakh shares were traded on the NSE compared with a 5-day average of 11.4 lakhs.

Asian Paints has seen its market capitalization rise 13.2 percent to 81,661 crore rupees over 1 month.

(Image credits: touchtalent)