 "Asian Paints hits 52-week low; slips 3%; two top executives resign")
Asian Paints shares slipped 3.2 per cent in Thursday's trade, logging a 52-week low at Rs 2,268.6 per share on BSE. The selling pressure in the stock came after two top executives resigned from their positions.
Around 10:12 AM, Asian Paints share price was down 3.01 per cent at Rs 2275.05 per share on BSE. In comparison, the BSE Sensex was down 1.09 per cent at 79,304.36. The market capitalisation of the company stood at Rs 2,18,543.62 crore. The 52-week high of the stock was at Rs 3,422 per share.
In two separate filings, the paints company announced the resignation of Vishu Goel - Associate vice president, retail sales, and Shyam Swamy, vice president, home improvement, décor, services, and retailing.
"This is to inform that Mr. Vishu Goel - Associate Vice President, Retail Sales, Commercial & Marketing, member of the Senior Management, has resigned from the services of the company," the filing read.
"This is to inform that Mr. Shyam Swamy - Vice President, Home Improvement, Décor, Services & Retailing, member of the Senior Management, has resigned from the services of the company," the filing read.
Both resignations were accepted on December 17, 2024, and both executives requested immediate relief.
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Asian Paints, established in 1942, is India’s largest and one of the world’s leading paint companies, renowned for its innovation, quality, and customer-centric approach. It dominates India’s decorative paints market and is among the top 10 paint companies globally. The company offers a diverse range of products, including interior and exterior wall paints, enamels, wood finishes, waterproofing solutions, and industrial coatings, while also expanding into home décor with offerings like wallpapers, textured paints, and modular kitchens.
With a presence in over 15 countries and 26 manufacturing facilities worldwide, Asian Paints combines cutting-edge technology and eco-friendly practices to deliver sustainable and high-performance products. Known for initiatives like Safe Painting Services and advanced digital tools for color visualisation, it continues to enhance customer experiences. The company’s strong financial performance, innovative product launches, and strategic focus on home improvement solidify its position as a trusted leader in the global paint and home décor industry.
In the past one year, Asian Paints shares have lost 29.6 per cent against Sensex's rise of 12 per cent.