Asian Paints Soars to 52-Week High After Strong Q2 Results; Experts Split on What's Next

Asian Paints' stock reached a 52-week high following strong Q2 results, which showed a 43% profit increase and 6.4% revenue growth. The company also announced an interim dividend.

Asian Paints shares brightened the market mood on Thursday (November 13), jumping over 4% to touch a 52-week high of Rs 2,898.20 after the company posted impressive July–September quarter (Q2FY26) results. The stock opened strong at Rs 2,836.30, well above Wednesday's close of Rs 2,773.40, and was still trading over 3% higher at Rs 2,862.55 by mid-morning. This marks the sixth straight session of gains for the paint giant.

So far, November has been a colourful month for Asian Paints, the stock has already climbed 14% this month, after a 7% rise in October. Year-to-date, it's up an impressive 25%, leaving the Sensex's 8% gains far behind.

Q2 Earnings Paint a Bright Picture

Asian Paints' second-quarter numbers gave investors plenty to cheer about.

The company reported a 43% year-on-year jump in profit to Rs 993.59 crore, easily beating Bloomberg's analyst estimate of Rs 894.46 crore. Revenue also rose 6.4% to Rs 8,513.70 crore, driven by healthy decorative and industrial paint sales.

To sweeten the deal, the board announced an interim dividend of Rs 4.5 per share for FY26. The record date has been set for November 18, with payments to be made on or after November 27.

Mixed Calls from Analysts

While investors are clearly celebrating, analysts are treading carefully.

JM Financial has maintained a "reduce" rating on the stock, even as it raised its target price to Rs 2,800 from Rs 2,245.

"We like Asian Paints' strong execution, but after a 20% rally in the past month, the upside seems limited," the firm noted. "Sustained demand recovery will be key for further re-rating."

Meanwhile, Motilal Oswal Financial Services took a more optimistic tone, keeping a "neutral" stance but hiking its target price to Rs 3,000.

"Asian Paints continues to focus on innovation, brand leadership, and regional strategies," the brokerage said. "With demand stabilising and disruptions easing, the company looks well-positioned to sustain steady growth."

What's Next for Investors

Experts say the short-term outlook may depend on whether demand momentum holds through the festive season. While valuations are on the higher side, the company's solid brand power, expanding margins, and consistent execution make it a long-term favourite among investors.