ICICI Securities Ltd | Retail Equity Research Kansai Nerolac (KNL) continued recorded strong volume growth of ~13% YoY (I-direct estimate) led by ~14%, ~11% YoY volume growth in decorative, industrial segment, respectively. The volume growth was largely on account of lower base (due to demonetisation) and in-spite of early diwali sales during Q2. However, despite rising raw material prices company has refrained to take price hike during Q3FY18, resulting flattish realisation growth....