Kansai Nerolac Paint

** Shares of Indian paint makers slip between 0.3% and 3.6%

** Indigo Paints INDG.NS falls 3.6% and Asian Paints ASPN.NS down 2.2%

** Kansai Nerolac Paints KANE.NS, JSW Dulux JSWD.NS, and Berger Paints BRGR.NS fall 1.3%, 0.8%, and 0.3%, respectively

** A major part of paint production costs stem from crude oil-based raw materials

** Oil prices rose after the U.S. military launched airstrikes against Iran and reimposed crude sales sanctions, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again

** Brent Crude futures LCOc1 climb 2.7% to $76.16 as of 10:03 a.m. IST

(Reporting by Vijay Malkar)

(([email protected];))

May 12 (Reuters) - Berger Paints India BRGR.NS reported a 27.5% surge in fourth-quarter profit on Tuesday, aided by strong volume growth across key business segments on better product mix and softer raw material prices.

• Consolidated net profit rose to 3.35 billion rupees ($35.03 million) for the March quarter, from 2.63 billion rupees a year ago; volumes expanded 12%.

• Decorative and automotive coatings segments posted double‑digit volume growth, supported by premium product traction and healthy two‑ and three‑wheeler demand, helping total revenue from operations rise 6%.

• Improvement in domestic demand trends and sequential monthly upticks were positive indicators, CEO Abhijit Roy said, adding that calibrated price hikes initiated from late March are expected to support margins amid rising raw material costs.

• Company raised prices by 1% to 2% effective March 25 to offset rising input costs, joining peers Kansai Nerolac KANE.NS and Asian Paints ASPN.NS.

• Analysts at Nomura said higher raw material inflation in March and April could pressure industry margins in first quarter of fiscal year 2027.

• Berger re-appointed Roy as MD and CEO for a four-year term effective July next year.
  ($1 = 95.6275 Indian rupees)

(Reporting by Devika Nair in Bengaluru; Editing by Harikrishnan Nair)

(([email protected];))

** Kansai Nerolac Paints KANE.NS jumps as much as 9.43% to 220.42 rupees, highest since February 5; last up 6.34%

** Paint maker's Q4 profit up 3.5% y/y on strong automotive demand, helped by price hikes

** Total expenses rises ~6%

** Co says demand visibility remains uncertain amid inflationary pressures; warns of price hikes

** Systematix cuts PT by 10 rupees to 215 rupees; lowers FY28 EPS estimate by 9% on weak margin outlook, but keeps FY27 EPS estimate unchanged

** Macquarie sees growth risks from inflation, potential lag in price hikes

** Stock rated "hold" on average, per data compiled by LSEG

** YTD, KANE down ~8.7%

(Reporting by Bipasha Dey in Bengaluru)

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May 6 (Reuters) - India's Kansai Nerolac Paints KANE.NS reported a 3.5% rise in fourth-quarter profit on Wednesday, driven by strong automotive demand and supported by price hikes.

Here are some details:

• The paintmaker is owned by Japan's Kansai Paint Co 4613.T

• Consolidated net profit rose to 1.12 billion rupees ($11.84 million) for the quarter ended March, from 1.08 billion rupees a year earlier

• Revenue from operations rose 7.5% to 19.54 billion rupees

• Analysts had expected earnings to be supported by price hikes, and strong auto sales with margin pressures from higher raw material costs partly cushioned by existing inventory

• Kansai Nerolac implemented a 2% to 3% price hike from March 25 to offset rising input costs

• Total expenses rose nearly 6% to 1.81 billion rupees, driven by higher cost of materials consumed

• "While demand momentum continues, how cost drivers pan out will need to be watched in light of the current geopolitical situation," Managing Director Pravin Chaudhari said

• Rival Akzo Nobel India AKZO.NS and larger peer Asian Paints ASPN.NS have yet to report their earnings

($1 = 94.6100 Indian rupees)

(Reporting by Devika Nair in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected];))

April 24 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• KANSAI NEROLAC PAINTS LTD - GETS ORDER CONFIRMING PENALTY OF 2.9 MILLION RUPEES

Source text: ID:nNSE2nFyBG

Further company coverage: KANE.NS

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** Shares of major Indian paint makers rise between 1.4% and 6.5%

** Asian Paints ASPN.NS rises 5.1%, Berger Paints India BRGR.NS up 3.1%, Kansai Nerolac Paints KANE.NS climbs 5.2%, Akzo Nobel India AKZO.NS up 1.2%, and Indigo Paints INDG.NS rises 6.4%

** Benchmark Brent crude LCOc1 falls below $100/barrel after the U.S. announces a two-week ceasefire with Iran that was subject to immediate reopening of the Strait of Hormuz O/R

** Falling crude prices are a positive for paint makers which count the commodity as a major raw material

** ASPN and BRGR almost fully recoups losses ever since the Iran war started, hitting their highest level in over one month

** KANE and INDG touches their highest in almost a month

** All five paint makers collectively lost ~65% in March, as escalating conflict in the Middle East and supply disruption concerns triggered wild swings in oil prices

** India stock benchmark Nifty 50 .NSEI jumps 3.3% to its highest since March 11

(Reporting by Pranav Kashyap in Bengaluru)

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March 30 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• KANSAI NEROLAC PAINTS: GOT TAX ORDER CONFIRMING PENALTY 27.9 MILLION RUPEES

Further company coverage: KANE.NS

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**Shares of Asian Paints ASPN.NS up 1.8% to 2,160 rupees

**As per media reports, the company hikes prices between 6% and 8% across its decorative portfolio in two phases starting April 10

**Follows a 1%-2% price hike by Berger Paints BRGR.NS and 2%-3% price hike by Kansai Nerolac KANE.NS effective March 25

**Macquarie ("Outperform"; PT: 3,100 rupees) says co's price hike is part of historical patterns of companies taking price hikes to pass on input inflation

**Brokerage believes margin headwinds linked to input cost inflation are more near-term in nature

**Stock rated as "Hold" on average by 35 analysts; median PT at 2,730 rupees per data compiled by LSEG

**YTD, stock down 21.5%

(Reporting by Mridula Kumar in Bengaluru)

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** Asian Paints ASPN.NS up 1.6%, Akzo Nobel India AKZO.NS rises ~2%, Berger Paints India BRGR.NS gains 1%, Kansai Nerolac Paints KANE.NS adds 0.2%

** Oil, a key raw material for paints, falls after hitting more than three-year high on Monday, as Donald Trump said Middle East war could end soon, easing concerns about prolonged disruptions to global oil supplies

** Crude down after seven straight sessions of rise

** Brent LCOc1 sheds 5.2% to $93.84/barrel

** YTD, KANE down ~21%, ASPN falls 18.4%, BRGR sheds 17.7%, AKZO slips 13.6%

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

** Shares of Indian paint companies fall between 3% and 5% as prices of crude oil, a key raw material, surge

** Asian Paints ASPN.NS down 4.6%, Berger Paints India BRGR.NS down 3.3%, Kansai Nerolac Paints KANE.NS trading 3.4% lower, while Akzo Nobel India AKZO.NS falls 2.7%

** ASPN, India's largest paintmaker by market share, trading at its lowest levels since March 5, 2025, while the benchmark Nifty 50 index is down 2.8%

** Crude prices climbed to their highest in nearly four years as U.S.-Israeli war with Iran widens

** Brent LCOc1 jumps as much as 26.4% to $117.16 a barrel

** YTD, ASPN and BRGR are down ~18% each, KANE down ~20%, and AKZO lower by ~13%; Nifty 50 down 9%

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

** Shares of Indian paint companies fall between 1% and 3% as crude oil, a key raw material, prices surge

** Asian Paints ASPN.NS down 3%, Kansai Nerolac Paints KANE.NS down 2.4%, Akzo Nobel India AKZO.NS down 1%

** Middle East conflict pushes crude prices higher, with Brent crude futures climbing to about $82.40 a barrel, their highest in 14 months O/R

** Antique Stockbroking forecasts Brent crude to average $80-85/barrel this quarter if conflict persists

** Brokerage says 10% increase in crude could result in 200 to 250 bps gross margin contraction for ASPN & KANE as crude derivatives account for 40-45% of raw material

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

** HSBC and Macquarie expect a slow earnings recovery for Indian paint makers as demand stays soft, even as competitive intensity peaked out in the December quarter

** Top paint companies post slower sales growth in the December quarter, reinforcing a cautious near-term outlook

** HSBC warns the cycle turnaround could take longer, flagging potential structural concerns for the sector

** HSBC reiterates "Hold" on Asian Paints ASPN.NS (PT 2,900 rupees) and Berger Paints BRGR.NS (PT 540 rupees)

** HSBC pencils in high single-digit percent sector revenue growth through FY2027, despite 10%–12% industry volume growth in Q3

** Says higher dealer incentives, defence of strongholds, and some downtrading could crimp revenue growth

** Macquarie says demand uptick is key for stock performance; rates Asian Paints "Outperform" (PT 3,100 rupees), Berger "Underperform" (PT 410 rupees), and Kansai Nerolac KANE.NS "Neutral" (PT 220 rupees)

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

** Kansai Nerolac Paints KANE.NS falls as much as 2.9% to a near seven-week low of 221.55 rupees

** Co reports an 82% drop in third-quarter profit to 1.21 billion rupees ($13.38 million), owing to higher expenses and one-time charge linked to the country's new labour laws

** Rev from ops rises 3% YOY

** KANE last down 2.3%, taking YTD losses to 5.4%

($1 = 90.4570 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

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Feb 3 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• KANSAI NEROLAC PAINTS Q3 CONSOL NET PROFIT 1.21 BILLION RUPEES

• KANSAI NEROLAC PAINTS Q3 CONSOL REVENUE FROM OPERATIONS 19.82 BILLION RUPEES

Source text: [ID:]

Further company coverage: KANE.NS

(([email protected];;))

Updates with details and background

Jan 27 (Reuters) - Asian Paints ASPN.NS, India's largest paintmaker by market share, reported a surprise profit drop on Tuesday, as a one-time charge tied to the country's new labour laws outweighed strong volume growth in its mainstay decorative paint segment.

The Mumbai-based company posted a consolidated net profit of 10.60 billion rupees ($115.61 million) in the three-month period ended December 31.

Analysts, on average, had expected a profit of 12 billion rupees, according to LSEG-compiled data. The company's profit came in at 11.10 billion rupees in the year-ago period.

Shares of the paintmaker extended losses after the results, last trading 3% lower.

The company took a one-time charge worth 1.58 billion rupees, which included exceptional expenses tied to India's new labour laws and certain impairment losses.

Domestic sales volumes of decorative paints grew 7.9% in the reported quarter, in line with a 5%-11% growth range modelled by analysts from at least six brokerages.

The company earns nearly 90% of its revenue from domestic sales of decorative paints, primarily used by retail consumers for household painting.

Despite challenges like an extended monsoon season during the reported quarter, analysts expected Asian Paints to outperform smaller rivals such as Berger Paints BRGR.NS and Kansai Nerolac KANE.NS.

This optimism was supported by a low base of 1.6% volume growth in the quarter ended December 2024 and expectations that subdued inflation and consumer tax cuts will boost retail discretionary spending.

The paintmaker, however, last year faced its weakest demand in decades, as consumers opted for cheaper brands amid the rising cost-of-living crisis. Competition intensified when new entrant Birla Opus ramped up production and offered discounts, sparking price wars.

The company's revenue from operations rose 3.7% to 88.67 billion rupees in the reported quarter, below analysts' average expectation of 90.46 billion rupees.

In the quarter ended December 2024, revenue had fallen 6% year-on-year.

($1 = 91.6837 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sherry Jacob-Phillips and Janane Venkatraman)

(([email protected]; X: @MukherjeeHritam;))

Oct 9 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• KANSAI NEROLAC PAINTS LTD - INITIATES BILLING FROM CHENNAI FOR INDUSTRIAL BUSINESS

Source text: ID:nNSE17FJvZ

Further company coverage: KANE.NS

(([email protected];))

Aug 11 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• APPROVES AMALGAMATION OF NEROFIX AND CO

Further company coverage: KANE.NS

(([email protected];))

July 25 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• KANSAI NEROLAC PAINTS LTD - APPOINTMENT OF YASH AHUJA AS CHIEF FINANCIAL OFFICER:

Source text: [ID:]

Further company coverage: KANE.NS

(([email protected];;))

Recasts, adds detail on industry, market share, analyst comments

By Hritam Mukherjee and Manvi Pant

BENGALURU, June 27 (Reuters) - JSW Paints will buy Dutch paint maker Akzo Nobel's AKZO.AS Indian arm for about $1.6 billion, in what will be the country's biggest deal yet in the sector as competition intensifies between established players and new entrants.

The deal comes as challenges for Indian paint makers mount, including volatile raw material costs and heightened competition, with billionaire Kumar Mangalam Birla's entry into the sector last year eating into Asian Paints' market share.

Dulux Paint-owner Akzo Nobel had announced a review of its South Asia operations last year to rein in costs and boost its core coatings business.

Shares of Akzo Nobel India jumped more than 11% after the deal was announced, and were trading 7.6% higher in Mumbai at around 0830 GMT.

India's paint and coatings market is expected to reach $16.37 billion in size by 2030, Mordor Intelligence estimates, from $10.46 billion in 2025, driven by a boom in infrastructure and real estate development.

The deal, which includes debt, will be the Indian paint sector's biggest deal on record, Dealogic data showed.

JSW Paints, launched in 2019 and part of the $23 billion JSW Group, will buy a 74.76% stake in Akzo Nobel India for $1.05 billion and launch an open offer for the roughly 25% held by public shareholders.

Parent Akzo Nobel, the fourth-largest paint maker in the world by market capitalisation behind PPG, Nippon Paint 4612.T and Sherwin-Williams SHW.N, will continue to retain its research and development centre and powder coatings business in India.

GROWING COMPETITION

Once completed, the deal will propel JSW Paints to fourth place by market share in a sector dominated by Asian Paints ASPN.NS, Berger Paints BRGR.NS and Kansai Nerolac KANE.NS, according to Geojit Financial Services analyst Antu Thomas.

Birla-owned Grasim launched Birla Opus in 2024, crowding the already-competitive market. Birla has since filed an antitrust complaint against Asian Paints for allegedly abusing its market position, Reuters has reported.

In 2022, the competition regulator closed a case filed by JSW Paints against Asian Paints for abusing its market position, saying it found no breach of competition laws.

"While this acquisition offers JSW Paints a significant scale-up opportunity, near-term integration challenges could provide an opportunity for incumbent players to strengthen their market position in the luxury segment," Amit Purohit, vice president at Elara Capital said.

Akzo Nobel is likely to rake in 900 million euros in net proceeds and plans to launch a 400 million euro share buyback program after the deal's closing, which is expected in the fourth quarter of 2025.

(Reporting by Hritam Mukherjee and Manvi Pant in Bengaluru; Additional reporting by Dimitri Rhodes; Editing by Mrigank Dhaniwala, Vijay Kishore, Aditya Kalra and Rachna Uppal)

(([email protected]; X: @MukherjeeHritam;))

June 3 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• KANSAI NEROLAC PAINTS LTD - FILES APPEAL AGAINST GST ORDER

• KANSAI NEROLAC PAINTS LTD - QUANTUM OF CLAIMS AMOUNTS TO 39 MILLION RUPEES

Further company coverage: KANE.NS

(([email protected];))

** Berger Paints' BRGR.NS up 1.4%, after 1.9% gain on Wed following Q4 profit beat

** BRGR's results better than rivals Asian Paints ASPN.NS and Kansai Nerolac KANE.NS, says Dolat Capital

** ASPN missed Q4 profit view, while KANE posted a surprise profit drop; Akzo Nobel India's AKZO.NS profit was stagnant

** Ambit Capital says while BRGR is best in sector, sector itself is not preferred due to demand, rivalry woes

** Still, hikes TP to 485 rupees, vs 563 rupees current price

** Dolat lifts TP to 616 rupees, ICICI Securities to 515 rupees

** Analysts avg rating on BRGR is "hold', same as KANE, while ASPN is "sell" - LSEG data

** YTD, BRGR up 23%, ASPN up 0.5%, KANE flat

(Reporting by Yagnoseni Das and Hritam Mukherjee in Bengaluru)

(([email protected];))

** Asian Paints ASPN.NS, Berger Paints India BRGR.NS, and Kansai Nerolac KANE.NS up 0.6%-1.5% amid market weakness .BO

** Brent LCOc1 hits over-four-year low on demand concerns due to escalating Sino-US tariff war

** Fall in oil prices benefits paint makers, who count crude as a major raw material

** ASPN, BRGR and KANE have gained about 4.8%, 6.5% and 2.6% since U.S. tariffs on April 2, while blue-chip Nifty 50 .NSEI has fallen fell 4%

** YTD, ASPN and BRGR has gained ~6% and ~20% respectively, while KANE has dropped ~7.5%

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

** Indian paint makers Asian Paints ASPN.NS, Berger Paints India BRGR.NS, Akzo Nobel India AKZO.NS and Kansai Nerolac KANE.NS climb between 1% and 2%

** Brent crude futures LCOc1 fell to their lowest since December 2021 in previous session before steadying on Thursday, still trading near multi-year low levels O/R

** Fall in oil prices benefits paint makers, who count crude as a major raw material

** Both ASPN and KANE gain ~2%, while BRGR and AKZO climb 1.3% and 1.2%, respectively

** AKZO only major paint maker rated "buy" on avg, rest rated "hold" - data compiled by LSEG

** KANE's 12% YTD drop biggest, followed by AKZO's 11% slide and ASPN's 4% decline

** BRGR only major paint maker to log YTD gains, up 9.3%

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

Rewrites with management commentary from post-earnings call

By Hritam Mukherjee

Feb 7 (Reuters) - Akzo Nobel India AKZO.NS said on Friday it expects the demand for paints to recover from the second half of the year after the effects of the federal budget's consumption-boosting proposals filter through essential items before influencing discretionary purchases.

Last week, the government dished out its biggest income tax relief in at least a decade, hoping that higher disposable incomes would boost demand and consumption, thereby lifting the economy.

However, the effects of that on the demand for discretionary items such as paints will only start from the second half of this year, Akzo Nobel Chairman and Managing Director Rajiv Rajgopal said in a post-earnings call.

Earlier in the day, the 'Dulux' paintmaker reported a 5% fall in consolidated third-quarter net profit to 1.09 billion rupees ($12.47 million) as its 2% increase in its revenue was outweighed by a 2.3% rise in expenses.

Paintmakers saw weak demand from retail consumers who are choosing cheaper brands in the face of high inflation, analysts say and demand forecasts by paint companies have been mixed so far.

While market leader Asian Paints ASPN.NS missed earnings estimates and issued a grim demand outlook, Kansai Nerolac KANE.NS said it also expects the lower income tax rates to increase demand.

Akzo Nobel India's larger peers, Grasim Industries GRAS.NS and Berger Paints BRGR.NS, are due to report their results next week.

(Reporting by Hritam Mukherjee and Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)

(([email protected]; Twitter: @MukherjeeHritam;))

** Shares of Indian paintmaker Kansai Nerolac KANE.NS rise 3.3% to 253 rupees

** Co said it expects paints demand to improve going forward on federal budget's consumption-boosting proposals

** Outlook comes at a time when decorative paints demand for listed players have been under pressure from consumers cutting back on optional spends and shifting to cheaper labels

** On a standalone basis, results were better-than-expected, says Investec; recommends "hold" rating on the stock and PT 290 rupees

** KANE, on an avg, rated "hold" with median TP 295 rupees - LSEG

** Q3 was third consecutive qtr of co's rev outperformance vs market leader Asian Paints ASPN.NS, Investec adds

** YTD ASPN flat, KANE down 4%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Feb 5 (Reuters) - Kansai Nerolac Paints Ltd KANE.NS:

• KANSAI NEROLAC PAINTS Q3 CONSOL NET PROFIT 6.81 BILLION RUPEES; IBES EST. 1.4 BILLION RUPEES

• KANSAI NEROLAC PAINTS Q3 CONSOL REVENUE FROM OPERATIONS 19.22 BILLION RUPEES; IBES EST. 19.23 BILLION RUPEES

• KANSAI NEROLAC PAINTS - Q3 RESULTS HAVE ONE TIME GAIN OF 6.3 BILLION RUPEES

• KANSAI NEROLAC PAINTS - PRAVIN D. CHAUDHARI APPOINTED AS MANAGING DIRECTOR, FOR 3 YEARS

Source text: [ID:]

Further company coverage: KANE.NS

(([email protected];))

** Shares of Asian Paints ASPN.NS fall 0.7% ahead of Q3 results due later in the day; benchmark Nifty 50 .NSEI up 0.9%

** Analysts, on avg, expect the paintmaker to report a ~21% y/y fall in Q3 consol profit to 11.42 bln rupees ($131.3 mln), per data compiled by LSEG

** At least three brokerages said demand slowdown in the industry persisted in Q3, after weak growth in H1, due to increased competition, lower volumes and pricing pressures

** ASPN first to report Q3 results among major Indian paint companies

** Analysts on avg rate ASPN "hold", same as peers Berger Paints BRGR.NS and Kansai Nerolac KANE.NS -LSEG data

** YTD ASPN, BRGR up 0.5% and ~8%, while KANE down ~7.5%

** ASPN's fwd 12-month PE is 45x, 11th highest on Nifty 50 and just higher than BRGR's 44x; KANE's PE is 27x -LSEG

($1 = 86.9720 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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Nov 14 (Reuters) - India's Grasim Industries GRAS.NS reported a lower second-quarter adjusted profit on Thursday, dragged down by poor demand in its paints division due to higher-than-usual monsoon rainfall.

The company, which also has chemicals and yarns businesses, reported a profit before exceptional items of 7.71 billion rupees ($91.4 million) in the three months ending Sept. 30, down 3% from a year ago.

Grasim's standalone numbers exclude earnings of its units UltraTech Cement ULTC.NS and Aditya Birla Capital ADTB.NS.

The company's paints division, launched earlier this year under the Birla Opus brand, has hurt its margins as the company continues to invest in the business.

Moreover, paint makers saw weak demand as the country saw above-average monsoon rainfall during the quarter, which impacted sales.

Grasim's revenue rose about 18% to 76.23 billion rupees for the quarter.

Its total expenses surged 26% to 78.65 billion rupees, causing Grasim's margins on earnings before interest, tax, depreciation and amortization to contract to 18% from 19% a year earlier.

Rivals Asian Paints ASPN.NS, Berger Paints India BRGR.NS and Kansai Nerolac Paints KANE.NS, all experienced a slump in profit, hurt by muted demand due to heavy monsoons.

($1 = 84.3970 Indian rupees)

(Reporting by Ashna Teresa Britto and Kashish Tandon in Bengaluru; Editing by Vijay Kishore)

(([email protected];))

Nov 11 (Reuters) - India's Asian Paints ASPN.NS fell as much as 9.3% on Monday, after it reported a second-quarter net profit on Saturday that nearly halved and a volume growth that disappointed some analysts.

The second-quarter results were a miss with sales below industry peers, said Macquarie.

The company's sales volumes, which declined 0.5%, were weaker than that of other large peers such as Berger Paints' BRGR.NS 3.6% rise and Kansai Nerolac's KANE.NS 4% overall volume growth, said Morgan Stanley.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; X: @MukherjeeHritam;))

** Shares of Kansai Nerolac Paints Ltd KANE.NS fall as much as 2.3% to 279.20 rupees

** The paint manufacturer reported a ~31% fall in Q2 consol net profit to 1.23 bln rupees, weighed down by muted demand due to heavy monsoons and high expenses

** Rev up 0.3% at 19.51 bln rupees

** More than 311,000 shares traded, vs their 30-day moving avg of 504,272 shares

** Mean rating of 16 analysts rating the stock is "hold"; their median PT is 320 rupees - LSEG data

** KANE stock down 15.7% YTD, including session's losses

(Reporting by Meenakshi Maidas in Bengaluru)

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