Technical analyst Amrut Deshmuk of Way2Wealth maintained 'hold' rating on Asian Paints Ltd stock with a long term target of Rs 2800.

According to analyst, the investors can buy the stock with a stop loss of Rs 2370.

The stock of the company, on Feb 03, closed at Rs 2476.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3027 and a low of Rs 1762 on BSE.

Current EPS & P/E ratio stood at 88.50 and 27.97 respectively.

Country's major paint company, Asian Paints declared that it has temporarily close down its functioning at its two production facilities in Egypt following the ongoing political disaster in the country.

The company said, "Due to the unprecedented situation and prolonged curfew in Egypt, the company's subsidiary, SCIB Chemicals SAE has temporarily shut operations of its two plants from January 29, 2011."

Paint maker, Asian Paints (APL) recorded an increase of 10.95% in the consolidated net profit for the three month period ended Dec 2010.

During October-December quarter, the company's profit remained at Rs 2.20 billion from Rs 1.99 billion for the same period of 2009.

During the quarter, the company's consolidated total income surged 29.47% to Rs 21.19 billion.

On a standalone basis, the company's net profit grew by 15.61% to Rs 2.07 billion from Rs 1.79 billion for the quarter ended Dec 2009.