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The Nifty IT index was trading 0.87 per cent up at 35127.0.

Asian Paints Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 305154.39 Crore) operating in Building Materials sector.

The stock traded at a P/E multiple of 128.39, while the price-to-book value ratio stood at 5.28.

The Relative Strength Index of the stock stood at 54.84 on Tuesday.

A total of 206,936 shares changed hands on the counter till 11:37AM (IST).

As part of the ‘Gati Shakti’ plan, the government is going to focus on better road and rail connectivity, which includes building 25,000 kilometers of roads

As of 31-Dec-2021, promoters held 60.51 per cent stake in the company, while FIIs held 11.3 per cent and domestic institutional investors had 1.15 per cent.

ET had earlier reported that the cabinet could take up as soon as next week a proposal to allow foreign investment in LIC, to help facilitate the initial public offering of the state-owned insurer.

“In terms of percentage gain, a good quality company where once this entire Covid thing goes away or reduces, there is going to be a huge revival are the cinemas. So INOX Leisure remains a good idea and at Rs 400, it has the potential of a 50% return till the next Budget.”

Analysts noted that a tax hike on cigarettes is a possibility as there have not been any hikes for the past two years. If the potential hike is in double-digits, it would be negative for cigarette companies, Edelweiss said in a note.