Asian Paints sets board meeting date to consider dividend, sets record date | Stock Market News

Asian Paints was in focus on Friday, September 12, following the company’s announcement of a board meeting scheduled for October 23, 2024, to consider a dividend. The company also set a record date in connection with the dividend decision.

In an exchange filing, it said that The Company’s Board of Directors will hold a meeting on Wednesday, October 23, 2024, to review and approve the audited standalone financial results for the quarter and half-year ending September 30, 2024, as well as the unaudited consolidated financial results for the same period. Additionally, the Board will consider the declaration of an interim dividend, if any, for the financial year ending March 31, 2025.

It is further informed that the record date for payment of interim dividend, if declared, will be Thursday, October 31, 2024.

Asian Paints announced that, in accordance with its “Code of Conduct to Regulate, Monitor, and Report Trading by Designated Persons,” the company’s trading window will remain closed from Friday, September 20, 2024, to Friday, October 25, 2024, both days inclusive. This closure is in anticipation of the declaration of the audited standalone and unaudited consolidated financial results for the quarter and half-year ending on September 30, 2024. Additionally, the company plans to hold an investor conference on Wednesday, October 23, 2024, at 5:30 p.m. IST, during which management will provide insights into the company’s performance for the same period. Details of the conference will be made available on the company’s website.

Stock Price Trend

Asian Paints’ stock faced pressure in intra-day trading on Friday, September 13, dropping around 2 percent to hit a low of ₹3,321.10. Despite this dip, the stock remains only 3 percent below its all-time high of ₹3,422, achieved in December 2023. On a brighter note, it has rebounded by over 24 percent from its 52-week low of ₹2,671, recorded in May 2024.

Over the past year, the stock has seen modest gains, rising just over 3 percent. However, in 2024 year-to-date (YTD), it has slipped more than 2 percent, despite registering gains for seven consecutive months from March to September, during which it climbed nearly 18 percent. The downward trend earlier this year was marked by a significant 13 percent drop in January, followed by a 4.6 percent decline in February. Despite these fluctuations, the stock’s resilience in the second half of the year has kept it within striking distance of its record high.