“Asian Paints’ strong revenue delivery and market share gains are impressive; however, rich valuation at 57 times FY24 estimated earnings per share, especially in the context of Grasim’s impending entry limits any upside,” said Axis Capital.
Monetary policy expectations impact stocks more than rate moves: RBI paper
Equity markets are impacted more by the expectations of future monetary policy than the policy rate surprises on the day of announcement of the policy