Asian Paints share price rises 2.5% after significant block deal worth ₹7,703 crore
Asian Paints share price rose by 2.5% during Thursday's trading session following a significant transaction involving the stock. Approximately 3.5 crore shares of Asian Paints were traded in the pre-open block window, as reported by CNBC TV18.
The shares were exchanged at an average price of ₹ 2,201 each, leading to a total transaction value of ₹ 7,703 crore. In the block deal, about 3.64% of the company's total equity was involved. The identities of the buyers and sellers in this transaction remain undisclosed.
As per the news report, at the close of the March quarter, India's Mutual Funds held a 5.67% interest in Asian Paints, with ICICI Prudential MF and SBI MF being key shareholders.
The Life Insurance Corporation of India (LIC) owns an 8.29% share in Asian Paints according to the latest shareholding data. Additionally, 11.73 lakh retail investors, with an authorized share capital of up to ₹ 2 lakh, collectively own an 11.84% stake in the firm.
Other public shareholders include Siddhant Commercials Pvt. Ltd., which held a 4.9% stake in the company as of March 31, 2025.
Earlier this week, Asian Paints received its lowest price target from Morgan Stanley, marking it as the third brokerage to set a price target below the ₹ 2,000 threshold.
Asian Paints share price today opened at an intraday low of ₹ 2,220.05 apiece on the BSE, the stock touched an intraday high of ₹ 2,263.95 per share.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Asian Paints share price is showing strength in morning session gaining over 2% and forming a morning star bullish reversal candle on the daily chart.
'In addition, we are seeing a positive divergence on the daily chart and bullish crossover in rsi smoothened, indicating that in near term prices can extend this bounce, ₹ 2,350 - 2,420 would be immediate resistance whereas around ₹ 2,200 is a strong support,' said Bhosale.
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