Asian Paints lost 1.52% to Rs 4,999.50 at 12:26 IST on BSE, with the stock extending Monday's 1.69% slide triggered by the company reporting weak Q1 results.
Meanwhile, the S&P BSE Sensex was up 171.96 points or 0.85% at 20,331.08.
On BSE, 16,000 shares were traded in the counter as against average daily volume of 11,473 shares in the past one quarter.
The stock hit a high of Rs 5,037.95 and a low of Rs 4,935 so far during the day. The stock had hit a record high of Rs 5,246.60 on 19 July 2013. The stock had hit a 52-week low of Rs 3,447.90 on 26 July 2012.
The stock had outperformed the market over the past one month till 22 July 2013, surging 11.62% compared with the Sensex's 7.38% jump. The scrip had also outperformed the market in past one quarter, jumping 9.33% as against Sensex's 5.16% rise.
The large-cap company has equity capital of Rs 95.92 crore. Face value per share is Rs 10.
Shares of Asian Paints have declined 3.19% in two trading sessions from Rs 5,164.25 on 19 July 2013, after the company at the fag end of trading hours on Monday, 22 July 2013, reported weak Q1 results. The stock had fallen 1.69% to settle at Rs 5,076.90 on Monday, 22 July 2013.
Asian Paints' consolidated net profit fell 4.57% to Rs 275.20 crore on 11.6% growth in income from operations to Rs 2841.10 crore in Q1 June 2013 over Q1 June 2012. Profit before depreciation, interest and taxes (PBDIT) rose 4% to Rs 464.70 crore in Q1 June 2013 over Q1 June 2012.
Asian Paints is India's largest paint company.
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