Kansai Nerolac Paints Ltd.    
18 Oct 2019
ICICI Securities Limited
The recent tax cut by the government from 33% to 25.2% is likely to boost earnings of Kansai Nerolac (Kansai) by 3% and 6% for FY20E and FY21E respectively. We change our earnings estimates and target price accordingly. We believe a tax cut would help demand revival in both decorative and industrial paint demand (with revival in automotive industry). This would also help organised players to gain market share from the...
Kansai Nerolac Paints Ltd. is trading above it's 200 day SMA of 461.1
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