Berger Paints’ (Berger’s) June 2020 quarter (Q1) profit performance, announced on Friday last week, was not only weaker than the Street’s expectation, but also worse than the numbers of market leader – Asian Paints. This hurt investor sentiment towards Berger’s stock, which, at 60 times FY22 estimated earnings, is currently trading at around 16 per cent premium to Asian Paints, which is also three times in size.
The stock of Berger Paints fell over 4 per cent in intra-day trade on Monday before ending the day at Rs 541.6, a decline of 1.6 per cent. The BSE ...
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