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Asian Paints shares fall 5% on Grasim’s entry into paint business, CLSA downgrade
The review comes on the back of Grasim Industries’ foray into the paint business. CLSA said the industry will likely see a significant uptick in competition, thereby cutting its FY25/26CL estimates by 8/10%. The brokerage also lowered its target price from Rs 3,215 to Rs 2,425.