Asian Paints (APNT) above expectation result was driven by 11% volume growth in decorative coatings followed by meaningful recovery in home improvement (led by kitchen business). In International markets, except Nepal, all other regions witnessed strong volume growth supported by gradual unlocking of the markets. Stable input cost aided gross margin expansion. APNT forays into lighting, furnishing and furniture to strengthen its home dcor and interior design business. Overall, it has been a strong performance. APNT has gained market share both from organized and un-organized players led by distribution reach/efficiency. We continue to maintain our bullish stance...