Sharekhan is bullish on Indigo Paints has recommended buy rating on the stock with a target price of Rs 1400 in its research report dated February 13, 2023.

Buy Indigo Paints; target of Rs 1400: Sharekhan

Revenue, Ebitda was below our estimate primarily due to extended monsoon and early festive season.

Indigo Paints Q3 Results Review - Operational Performance Missed Estimate: Dolat Capital

Indigo Paints reported 8.06% rise in net profit to Rs 26.26 crore on a 5.95% increase in net revenue from operations to Rs 281.27 crore in Q3 FY23 over Q3 FY22.

Indigo Paints records over 8% rise in Q3 PAT; EBITDA at Rs 40.56 crore

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Indigo Paints share price: The scrip has tanked 43 per cent from its 52-week high level of Rs 2,345, hit in November last year. Indigo had issued shares at a price range of Rs 1,490 in IPO.

Indigo Paints shares hit 52-week low today; here’s what experts say

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Sequoia Capital India on Wednesday divested nearly 3.3% stake in paint manufacturer Indigo Paints for Rs 210 crore

Sequoia Capital India Sells Stake In Indigo Paints For Rs 210 Crore

Indigo Paints Ltd recorded volume of 19.05 lakh shares by 10:46 IST on BSE, a 207.27 times surge over two-week average daily volume of 9192 shares

Volumes soar at Indigo Paints Ltd counter

Indigo Paints saw 11.8 lakh shares, or 2.5% of equity, change hands in bunched trade.

Indigo Paints Shares Plunge Almost 11% After Large Trade

On the NSE, a total 1.05 million shares or 2.2 per cent of the equity of the company had changed hands till 10:11 am

Indigo Paints drops 10%, hits new low after 4% equity changes hands on BSE

Brokerages have retained their rating on Indigo Paints after its Q2 show

Indigo Paints shares plunge 6% after Rs 283-crore block deal

Hasn't faired well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Indigo Paints is an India-based paint manufacturing company. The Company products include interior emulsions, exterior emulsions, enamels, putties and primers, sleek wood coatings, ceiling coat, roof coat and floor coat paint.