Asian Paints Shares Plunge 6% Amid Bearish Brokerage Outlook Post Q3 Earnings

• Asian Paints shares dropped 6% after its December quarter earnings received a mixed reception, with most analysts maintaining a bearish stance.
• Brokerages like CLSA, HSBC, Goldman Sachs, and Citi downgraded or maintained 'Sell' ratings due to disappointing revenue growth, weak demand, and concerns over the gap between revenue and volume growth.
• CLSA reduced FY26-28 earnings estimates by 0-7%, while HSBC lowered its price target to ₹2,900, citing persistent weak retail demand.
• Goldman Sachs and Citi maintained 'Sell' ratings, highlighting Q3 performance falling short of estimates and slower-than-expected growth momentum.
• Conversely, Jefferies and Nomura reiterated 'Buy' ratings, noting respectable volume growth and strong gross margins, despite management acknowledging ongoing competition.

Why It Matters: Asian Paints shares fell sharply as most brokerages remained bearish on its Q3 performance and future outlook.