Asian Paints’ stock has seen a continuous decline, dropping approximately 7 percent over the past four days. This downward trend is attributed to concerns arising from Grasim entering the paints business, raising worries about heightened competition in the sector.
Grasim recently introduced its paint brand, Birla Opus, with the goal of securing the second position in the decorative paints market. Currently, Asian Paints dominates this market. Grasim is not only aiming for market share but also targets profitability and a gross revenue of Rs 10,000 crore within three years of full-scale operations.
While Grasim’s ambitious goals and comprehensive strategy have garnered optimism from the market, they have simultaneously intensified the competitive landscape for Asian Paints.