Macquarie has maintained its Underperform rating on Berger Paints India with a target price of ₹410. The brokerage's recommendation comes as the paint industry implements strategic price adjustments to address ongoing margin pressures.

Industry-Wide Price Hike Strategy

The paint sector is witnessing coordinated price increases as major players work to counter margin headwinds. Berger Paints India, along with other key industry participants including Kansai Nerolac Paints, has announced price hikes of 2-3% effective from March 25.

Market Response and Outlook

The industry's pricing strategy reflects efforts to maintain profitability amid challenging market conditions. With another round of price increases anticipated in April, paint manufacturers are taking proactive measures to protect their margins against persistent headwinds.

Macquarie's maintained Underperform rating on Berger Paints India suggests cautious outlook despite the company's participation in industry-wide pricing discipline. The target price of ₹410 reflects the brokerage's measured expectations for the stock's performance in the current market environment.

Asian Paints has notified investors about a special facility introduced by the Securities and Exchange Board of India (SEBI) to facilitate the transfer and dematerialisation of physical shares. The initiative aims to address long-pending transfer requests that were previously rejected or not processed due to various deficiencies.

SEBI Special Window Details

SEBI, through its Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026, has established a special window for a period of one year. The facility will remain operational from February 5, 2026 to February 4, 2027, providing eligible investors with an opportunity to complete their pending share transfer processes.

Eligibility Criteria

The special window facility is specifically designed for physical shares that meet certain conditions. The eligibility framework is clearly defined to ensure proper implementation of the SEBI directive.

The facility covers shares that were sold or purchased prior to April 1, 2019 and were subsequently rejected, returned, or not attended to due to deficiency in documents, processes, or other issues.

Processing and Lock-in Requirements

Transfer requests that are re-lodged during the special window period and found to be complete and in order according to the SEBI Circular will be processed with specific conditions. All successfully processed shares will be issued exclusively in dematerialised form, eliminating the physical certificate format.

A mandatory lock-in period of one year will apply from the date of registration of transfer. During this lock-in period, the securities cannot be transferred, lien-marked, or pledged, ensuring compliance with regulatory requirements.

Registrar and Transfer Agent

Eligible investors wishing to avail this opportunity must submit their necessary documents to Asian Paints' official Registrar and Share Transfer Agent:

Public Notice and Documentation

Asian Paints has published the notice in multiple newspapers on March 11, 2026, including all India editions of Business Standard in English, Mumbai edition of The Free Press Journal in English, Mumbai edition of Navshakti in Marathi, and Maharashtra editions of Punyanagri in Marathi. The comprehensive information regarding the special window is also available in the Investor's section on the company's website at www.asianpaints.com .

The notice was signed by R J Jeyamurugan, CFO & Company Secretary, emphasizing the company's commitment to facilitating this regulatory compliance measure for its shareholders.