Asian Paints shares tank nearly 7% after Q3 results. Should you buy, sell or hold?

Asian Paints shares dropped significantly after reporting a nearly 5% year-on-year profit decline for the December quarter. While sales saw a modest rise, analysts remain divided. Citi reiterates a 'Sell' rating, citing weak demand, while Morgan Stanley maintains 'Underweight' due to growth misses. Nomura, however, holds a 'Buy' rating, believing competitive pressures are easing.