Asian Paints shares are in focus today on account of multiple factors

Shares of Asian Paints Ltd

., India's leading paints company will be in focus on Thursday, November 6, after major developments at its key competitor Birla Opus, the Aditya Birla Group paints company.

Birla Opus announced over the mid-week holiday that its CEO Rakshit Hargave has quit with immediate effect and will be joining Britannia as CEO from December 15. Hargave has quit after 18 months of its launch.

During the most recent quarter, Birla Opus stated that it continues to gain market share across most markets and it has expanded its reach to over 10,000 towns and 140 depots. Including Birla Opus and Birla White Putty revenues, the market share has now reached double-digits.

In addition to this, crude oil prices are also at a two-week low as US crude stocks surged by 5 million barrels on a week-to-week basis, the biggest increase since July.

Asian Paints will also see an increase in its weightage on the MSCI Standard Index, as per the latest adjustments announced by the index service provider.

According to Nuvama Alternative & Quantitative Research, Asian Paints will likely see inflows to the tune of $95 million, due to the increase in its weightage.

Asian Paints will be announcing its results for the September quarter on Wednesday, November 12. The board will also be considering an interim dividend during this meeting for shareholders.

Shares of Asian Paints ended 0.8% lower on Tuesday at ₹2,492. The stock has risen 6% in the last one month, taking its year-to-date advance to 8%.